增强吸引力与包容性 资本市场“1+N”政策体系将持续完善

Core Viewpoint - The Central Political Bureau of the Communist Party of China emphasizes enhancing the attractiveness and inclusiveness of the domestic capital market, outlining a clear roadmap for capital market reforms in the second half of the year [1] Group 1: Market Stability - In July, the number of new A-share accounts reached 1.9636 million, a year-on-year increase of over 70% and a month-on-month increase of over 19%, indicating improved market attractiveness [2] - The implementation of policies to guide long-term capital into the market, including public fund reforms and the promotion of personal pension systems, is expected to strengthen the foundation for market stability [2] - Analysts predict that future policies will focus on facilitating the entry of more long-term capital and adjusting assessment mechanisms [2] Group 2: Inclusive Financing Ecosystem - As of August 8, 2023, the A-share market has seen the addition of 1,427 new listed companies since 2021, with a significant concentration in technology and healthcare sectors [4] - Policies during the "14th Five-Year Plan" period are increasingly favoring innovation and the establishment of a more supportive capital market ecosystem [4] - Future reforms are expected to focus on emerging pillar industries, enhancing the inclusiveness of the financing ecosystem [4] Group 3: Investor Protection - The investor protection system has been continuously improved, with various legal cases enhancing the channels for investor rights protection [7] - The "big investor protection" system is being optimized to create a favorable market environment for investors [7] - Authorities are expected to intensify efforts against market manipulation and insider trading, ensuring strict accountability for violations [8]