Relationship between superior and subordinate The local CSRC is an agency, which is under the vertical leadership of the China Securities Regulatory Commission. The IPO is the responsibility of the CSRC, and the local CSRC cannot manage it. The local CSRC is only responsible for the supervision of relevant securities institutions within its jurisdiction.

Functions under the CSRC:

According to the authorization of the China Securities Regulatory Commission, supervise and manage the securities and futures business activities of listed companies, securities and futures operating institutions, securities and futures investment consulting institutions, law firms, accounting firms, asset appraisal institutions and other intermediaries engaged in securities business within their respective jurisdictions; Investigate and deal with illegal cases of securities and futures within the supervision scope of the jurisdiction according to law, and mediate disputes and disputes in securities and futures business;

Cooperate with relevant departments to crack down on illegal securities and futures business activities in their respective jurisdictions, prevent and resolve the risks in the securities and futures markets in their respective jurisdictions, and promote the sustained, stable and healthy development of the securities and futures markets; Perform other duties authorized by China Securities Regulatory Commission.