Securities management refers to the activities that authorized organs and organizations supervise and manage the issuance, trading and related activities of securities according to law, aiming at maintaining the order and efficiency of the securities market, preventing market risks and protecting the interests of investors. The purpose of securities management is to make the market behaviors such as offering, issuing and trading of securities complete under relatively fair, reasonable, standardized and orderly conditions, and safeguard the interests of most investors (especially small and medium investors).