China's Securities Regulator says although capital markets are improving, there's still complex and intertwined risks to face

• Pledges to boost M&A activity and improve end-to-end oversight. 

China's Securities Regulator acknowledges improvements in capital markets but highlights ongoing complex risks, indicating a cautious outlook while pledging to enhance M&A activities and oversight. This suggests a regulatory environment aiming to stabilise and stimulate market activity, which could attract investment but also reflects the need for vigilance against potential disruptions. The focus on M&A could imply opportunities for corporate restructuring in the current climate.