资本市场赋能民营经济发展“加速度”

Group 1 - The development of the private economy in China requires financial support, as highlighted by the implementation of the "Private Economy Promotion Law," which aims to enhance the multi-level capital market system and facilitate direct financing for eligible private enterprises through stock and bond issuance [1] - The capital market plays an increasingly important role in the integration of technological and industrial innovation, with significant achievements in supporting private enterprises through mechanisms such as multi-level capital market systems, registration system reforms, and equity incentives [1] - The legal framework of the capital market is gradually improving, ensuring fair competition and equal financing opportunities for various entities [1] Group 2 - From 2022 to April 2025, private enterprises accounted for 80.35% of the 556 companies listed on the Shanghai and Shenzhen stock exchanges, raising a total of 637.35 billion yuan, which represents 63.86% of the total initial financing [2] - Private enterprises have also engaged in 750 refinancing instances, making up 71.36% of the total, with a refinancing scale of 842.80 billion yuan, which is 53.45% of the total [2] - The Beijing Stock Exchange and the New Third Board have developed differentiated systems to complement the Shanghai and Shenzhen exchanges, with private enterprises participating in 167 financing instances on the Beijing Stock Exchange, accounting for 87.89% of the total, and raising 31.25 billion yuan, which is 82.32% of the total [2][2] Group 3 - In the bond market, from 2022 to March 2025, private enterprises raised 421 billion yuan through corporate bonds, supported by regulatory initiatives aimed at enhancing the bond market's service quality for private enterprises [3] - The China Securities Regulatory Commission (CSRC) has implemented policies to support mergers and acquisitions (M&A) for private listed companies, including measures to facilitate the transformation and upgrading of traditional industries [3] - The "M&A Six Articles" released in September 2024 further supports private enterprises in M&A activities, allowing for flexible payment methods and simplified review processes [3] Group 4 - From 2022 to April 2025, private listed companies engaged in 4,159 M&A transactions, accounting for 57.74% of the total, with a combined transaction value of 1,410.35 billion yuan [4] - The capital market is undergoing profound changes, with the introduction of new policies that enhance the quality and investment value of listed companies, thereby accelerating the entry of medium- and long-term funds into the market [4] - The capital market is expected to continue empowering the private economy, providing robust support for high-quality private enterprises to grow and strengthen [4]