Reason:

Since the reform and opening up, with the development of China's securities market, it is imperative to establish a centralized and unified market supervision system. 1992 (Ren Shennian) 10, the State Council Securities Commission A (referred to as the State Council Securities Regulatory Commission) and China Securities Regulatory Commission (referred to as China Securities Regulatory Commission) were announced, marking the beginning of the formation of a unified supervision system for China's securities market. The State Council Securities Commission is the national competent authority for unified macro-management of the securities market. China Securities Regulatory Commission is the regulatory executive body of the State Council Securities Commission, which regulates the securities market according to law.

1In August, 1997, the State Council decided to put the Shanghai and Shenzhen stock exchanges under the supervision of the China Securities Regulatory Commission. At the same time, securities supervision offices of China Securities Regulatory Commission were established in Shanghai and Shenzhen. 1 1 in June, the central government held a national financial work conference, and decided to reform the national securities management system, straighten out the securities supervision system, exercise vertical leadership over local securities supervision departments, and put the securities operating institutions originally supervised by the People's Bank of China under the unified supervision of the China Securities Regulatory Commission.