Research Excellence Recognised by Industry Authority: IBSS Scholar's Paper Selected for National Securities Industry Collection.

Recently, the research output of the International Business School Suzhou (IBSS) at Xi’an Jiaotong-Liverpool University (XJTLU) has received authoritative industry recognition. A paper co-authored by Dr Yihan Li, Assistant Professor in the Department of Finance at IBSS, passed rigorous review and was successfully selected for the *Selected Papers on High-Quality Development of China's Securities Industry (2025 Edition)*, compiled by the Securities Association of China (SAC). The publication of this collection comes at a critical juncture – the beginning of China’s 15th Five-Year Plan period and the drive to build a strong financial nation. It aims to pool industry wisdom to provide theoretical support and practical references for further capital market reform and the high-quality development of securities institutions. The inclusion of Dr Li’s work signifies that his practice-oriented research has received high recognition from the highest self-regulatory authority in China’s domestic securities industry.

The selected paper, titled “Supporting ‘Specialised and Sophisticated’ Enterprises through Capital Markets: A Fintech Perspective”, was co-authored by Sun Jinku, Vice President of Kaicheng Securities and Head of its Research Institute, and Dr Yihan Li. It was previously published in China Securities, a core industry journal. Closely aligned with the national strategy of developing new quality productive forces, the paper deeply explores the pathways and models through which multi‑level capital markets can empower the growth of small and medium‑sized enterprises (SMEs) that are specialised and sophisticated. It provides a targeted analysis of existing problems in the integration of technology and finance and proposes professional, actionable optimisation strategies. The research addresses the urgent needs of current capital market development and possesses high academic value as well as strong practical application. The successful inclusion of this paper also demonstrates that Dr Li’s applied research has gained full recognition from the highest self‑regulatory body of China’s securities industry.

According to available information, the collection includes 104 high‑quality papers covering six frontier areas: empowering high‑quality development through capital markets, deep‑level industry reform, transformation and upgrading of financial institutions, financial risk prevention and control, industry culture building, and innovative applications of financial technology. The collection comprehensively showcases the in‑depth thinking and innovative practical achievements of securities practitioners and university researchers in the context of the industry’s new development phase. The foreword clearly notes that China’s securities industry is currently in a critical strategic period for building world‑class investment banks and investment institutions. Securities firms must position themselves strategically, strengthen their core functions, upgrade professional services, and pursue differentiated, niche‑oriented development paths to contribute to the high‑quality development of the financial industry.

As a national self‑regulatory authority established under the Securities Law, the Securities Association of China (SAC), since its founding in 1991, has consistently fulfilled its three core functions: self‑regulation, industry services and policy transmission. Organising special industry research on a regular basis and compiling and publishing an annual collection of outstanding papers is a key part of the SAC’s work to empower industry development. Each year, the Association selects the most instructive, targeted and relevant research achievements to build a high‑level platform for industry exchange, knowledge sharing and the translation of research into practice. Selected achievements are valued not only for their academic innovation but also for their ability to directly guide front‑line business operations, helping the industry solve problems and chart a clear direction.

This recognition of research by a leading industry authority is both an accolade for the individual scholar and strong evidence of the overall research strength of IBSS. Looking ahead, IBSS will continue to pursue the integrated development of industry, academia and research, encouraging its researchers to explore cutting‑edge issues in finance, actively address the practical needs of industry development, and engage deeply in specialised research and practice projects. Leveraging the unique advantages of a Sino‑foreign cooperative university, IBSS will continue to contribute XJTLU’s wisdom and strength to China’s efforts to build a strong financial nation and promote high‑quality development of its capital markets.