工行行长刘珺：中国股权市场发展需“智慧性”和“耐心”

Group 1 - The core viewpoint emphasizes the need for "wisdom" and "patience" in the future development of China's equity market [1][3] - The current capital market faces two major challenges: the need to adapt to digital transformation and the impact of quantitative and computerized trading on traditional trading patterns [2] - The rise of large technology companies is reshaping the capital market ecosystem, allowing startups to access funding without relying on traditional exchanges and IPO processes [2] Group 2 - The focus on stock markets and equity financing has limitations; direct financing and fixed income are also essential components for the growth of enterprises [2] - The introduction of professional institutional investors is crucial for attracting "smart money" to the Chinese capital market [3] - Long-term capital, such as that from insurance companies, pension funds, and sovereign wealth funds, is vital for market stability and should be encouraged to enter the capital and equity markets [3] Group 3 - The future of China's capital market can seek breakthroughs through digitalization and the convertibility of the Renminbi, which will enhance its development and strengthen the currency's role in investments [3]