Yes Shenzhen Securities Regulatory Commission and Guangdong Securities Regulatory Commission are under the management of China Securities Regulatory Commission. China Securities Regulatory Commission (hereinafter referred to as China Securities Regulatory Commission) is a ministerial-level institution directly under the State Council. According to laws and regulations and the authorization of the State Council, it uniformly supervises and manages the national securities and futures market, maintains the order of the securities and futures market, and ensures its legal operation. Guangdong Securities Regulatory Bureau was formerly known as "Guangdong Securities Regulatory Commission". Guangdong Securities Regulatory Commission was placed under the vertical management of China Securities Regulatory Commission and renamed Guangzhou Securities Regulatory Office of China Securities Regulatory Commission. Shenzhen Securities Regulatory Bureau, formerly known as "Shenzhen Securities Management Office", was established in April of 1993, and belongs to Shenzhen Municipal People's Government.