[China Quantification Science and Technology White Paper 2023: the regulatory framework for quantitative trading still needs to be improved] the 2023 China Quantification Science and Technology White Paper was released at the 2023 Quantification Science and Technology Carnival in Shanghai. The white paper points out that in the face of high-frequency innovation iterations and the increase of new business varieties brought about by the spring tide of business innovation, the whole ecosystem behind quantitative technology is facing great challenges. on the one hand, the regulatory framework of quantitative transactions still needs to be improved. most of the strategy algorithms are in the black box or gray box state, which is hidden to a certain extent, so it is necessary to further refine and analyze the programmed transaction. Such as increasing the relevant classification and explanation of frequency, strategy, algorithm and other aspects, including strengthening supervision on the use of data at the level of code and strategy algorithm, so as to promote the healthy and sustainable development of the quantitative technology industry. At the same time, the construction of industry technical standards needs to be strengthened. at present, there is a lack of group standards and industry standards in the field of quantitative science and technology, which will not be conducive to the improvement of quantitative data quality and exchange efficiency, as well as the assurance of the quality of quantitative trading system and platform software. will affect the long-term development of quantitative science and technology. The white paper suggests that the quantitative science and technology industry should develop and improve quantitative technology in many aspects, such as institutional system, institutional development, ecological construction, etc., in order to further expand its application scenarios in professional investment, asset management, investment business, and so on.