Recently, in order to further improve the regulatory system for listed companies and promote the improvement of the quality of listed companies, the China Securities Regulatory Commission issued the "Regulations on the Supervision and Administration of Listed Companies (Draft for Public Solicitation of Opinions)" (hereinafter referred to as the "Regulations"). The Regulation sets up a special chapter on "Investor Protection" to fully protect the legitimate rights and interests of investors in cash dividends, share repurchases, delisting and other aspects. Looking back, on March 1, 2020, the new Securities Law was officially implemented, and its establishment of the "Investor Protection" chapter is considered a milestone in the insurance work. The establishment of a special chapter in this regulation not only implements the new securities law, but also signifies the accelerated implementation of the investor centered concept in China's capital market, and the deepening of the insurance ecosystem towards a more systematic and binding direction. Investors are the foundation of the market, and investor protection has always been the top priority of the capital market. With the growth and expansion of the capital market, insurance work has moved from extensive to refined, covering various links such as legislation, regulation, and relief, gradually building a full chain protection network. Especially in recent years, with the comprehensive deepening reform of the capital market, the insurance work has pressed the "acceleration button", and a multi-level and three-dimensional new pattern of insurance is accelerating its formation. Firstly, the insurance system is becoming increasingly perfect, and the three-dimensional accountability system is taking root, continuously consolidating the foundation of market rule of law. The protection of investors in China's capital market has a distinct strategic continuity. Since 2004, the State Council has successively issued three "National Nine Articles", always placing investor protection at the core of reform, fully reflecting the continuous deepening and systematic planning of institutional design at the national level. During this period, revisions to the Company Law, Securities Law, and other related laws were introduced, and a series of supporting measures were implemented to establish a legislative protection and regulatory empowerment framework for insurance governance. More importantly, the design of the insurance system has shifted from paper-based planning to market effectiveness. The regulatory authorities adhere to the concept of "zero tolerance", crack down on illegal and criminal activities in the capital market, adhere to the combination of "punishing the ringleaders" and "punishing accomplices", promote the coordinated efforts of administrative, civil, and criminal accountability, and even force the "key few" of listed companies and intermediary institutions to return to their positions and fulfill their responsibilities, more effectively building a safety net for protecting investors' rights and interests, and laying a solid foundation for the long-term healthy operation of the capital market. Secondly, the insurance system should achieve full coverage and run through the entire process of company listing, trading, delisting, etc., resonating with investors' investment cycles. Currently, investor protection has formed a three-dimensional pattern that runs through the entire process of market operation. From the information disclosure standards for listing access, to corporate governance supervision and risk warning during the trading process, to the special arrangements for equity in the delisting process, the concept of investor protection has been deeply integrated into various aspects of capital market operation. This full chain coverage system not only significantly enhances the effectiveness of protecting investors' rights and interests, but also promotes the formation of an "investment friendly" market ecology, further promoting the effective functioning of the capital market's investment and financing functions. Thirdly, the channels for investors to safeguard their rights and seek relief have been continuously opened up, and the diversified resolution mechanism for securities and futures disputes has been continuously deepened. Currently, individual investors still make up the vast majority in China's capital market, which places higher demands on the universality of rights protection channels and the convenience of dispute resolution. In this context, various rights protection mechanisms such as special representative litigation and advance compensation have accelerated their implementation and effectiveness, gradually solving the pain points of investors' difficulty in providing evidence, slow claims, and high costs. This has achieved a dual improvement in the efficiency of rights protection and the strength of rights protection, promoting the formation of a new pattern of convenient, efficient, and diverse cooperation for resolving capital market disputes. Thanks to the firm protection of investors' rights in the capital market over the years, investor confidence has been fully boosted. Since the beginning of this year, the A-share market has continued to rise, with the Shanghai Composite Index once reaching the 4000 point mark. The daily trading volume of the entire market has repeatedly exceeded the high point of 3 trillion yuan, and the balance of the two funds has repeatedly reached new highs. These sets of data all demonstrate the strong vitality and resilience of the capital market, and also reflect investors' high recognition of the effectiveness of deepening reforms in the capital market and their firm belief in the long-term improvement of the Chinese economy. (New Society)