北交所四周年总市值超9000亿，市场期待更多改革措施

Group 1 - The Beijing Stock Exchange (BSE) has shown steady development over the past four years, with a total of 274 listed companies and a market capitalization exceeding 900 billion yuan [1][2] - The BSE has successfully positioned itself as a platform for innovative small and medium-sized enterprises (SMEs), achieving significant results in this area [1][3] - The number of qualified investors has increased by approximately 5 million since the exchange's inception, indicating a growing and optimizing investor base [2] Group 2 - In 2023, the BSE has led the A-share market in IPO applications, with 115 out of 177 applications directed to the BSE, reflecting its attractiveness for new listings [4] - The performance of new stocks has been remarkable, with several stocks experiencing first-day gains exceeding 400%, showcasing strong market interest [6] - The North Certificate 50 Index has outperformed other major indices, with a nearly 40% increase in the first half of the year, indicating improved market liquidity and investor confidence [5][7] Group 3 - The BSE has implemented various reforms, including the "Deep Reform 19 Measures," aimed at enhancing market liquidity and attracting long-term capital [8][9] - There is a strong expectation for further policy initiatives to accelerate the implementation of reforms and improve the overall market ecosystem [8] - Recommendations for future reforms include optimizing the listing process, enhancing market liquidity, and strengthening international cooperation to attract foreign capital [9]