In 2025, companies listed on the Shanghai market generated a combined RMB 51 trillion in revenue and RMB 4.5 trillion in net profit, maintaining steady growth momentum. More than 70% of the companies were profitable. Companies on the STAR Market delivered particularly strong performance, posting double-digit year-on-year growth in both revenue and profit.

On April 24, the China Securities Regulatory Commission (CSRC), together with the People s Bank of China and the State Administration of Foreign Exchange (SAFE), issued a joint announcement permitting Qualified Foreign Institutional Investors (QFII) to trade China s treasury bond futures for hedging purposes. This move further broadens the investment universe available to QFIIs and provides foreign investors with additional tools to manage interest rate risk, marking another step in the ongoing opening-up of China s capital market.

On April 24, the China Securities Regulatory Commission (CSRC) and stock exchanges released multiple regulatory measures focused on strengthening board secretary management and improving listed company governance.
The CSRC formally issued dedicated regulatory rules for listed company board secretaries, clarifying the statutory scope of their responsibilities, qualification and appointment requirements, and mechanisms to safeguard their performance of duties. The rules also tighten restrictions on improper concurrent positions and provide more detailed accountability provisions for negligence or misconduct.
At the same time, the SSE revised its listing rules and corporate governance guidelines to fully align with the CSRC framework, reinforcing board secretaries core responsibilities in information disclosure and compliance oversight while further enhancing conduct constraints for controlling shareholders and senior executives, as well as disclosure standards for key business activities.

On April 24, the SSE released a revised version of its Trading Rules, which will take effect on July 6. The amendments aim to improve market pricing efficiency and liquidity through 3 major changes.
1. The scope of after-hours fixed-price trading mechanism will be expanded from STAR Market equities to all A-shares and ETFs.
2. Fund closing transactions will be shifted from continuous auction to closing call auction, which will also determine the official closing price.
3. For risk-warning stocks on the main board, the daily price fluctuation limit will be widened from 5% to 10%. The revision also refines related disciplinary enforcement provisions to strengthen market regulation and ensure orderly trading conduct.