On 16th January, China Securities Regulatory Commission (CSRC) chairman Xiao Gang made a lengthy speech which has gained considerable attention from the securities industry.

From what we see, it seems like in the future, instead of promoting the development of the securities market, CSRC's primary focus is to enhance the regulations on the securities market to prevent the reoccurrence of the big problems.

However, such a focus has also raised concern on whether the securities market will be over-corrective, too restrictive and hesitant?

After all, the securities market is still a market place, a platform for free trading. In line with basic tone of the "13th Five-Year Plan", the securities marketshould adopt development as its basic tone.