发布会纪要丨塑造“放得活”又“管得住”的资本市场秩序，吴清最新发声

Core Viewpoint - The Chinese capital market is undergoing significant reforms aimed at enhancing market order while promoting growth and innovation, with a focus on strict regulation and support for various sectors [4][26]. Group 1: Market Performance and Trends - In the past five years, the total financing through IPOs and refinancing in the stock market reached approximately 10.6 trillion yuan [6]. - As of the end of August this year, the value of medium to long-term funds held in the market was about 21.4 trillion yuan [11]. - The annualized volatility of the Shanghai Composite Index is reported at 15.9%, indicating resilience and stability in the A-share market [9]. Group 2: Regulatory Actions and Compliance - A total of 207 companies have been subject to strict enforcement actions to eliminate fraudulent practices [12]. - Over the past five years, 2,214 cases of financial fraud and manipulation have been penalized, with fines totaling 4.1 billion yuan [14]. - The regulatory framework has been strengthened to deter financial misconduct, with a focus on comprehensive punishment and prevention measures [20]. Group 3: Foreign Investment and Market Access - Foreign investment in A-shares has been increasing, reflecting the attractiveness of the Chinese capital market [16][17]. - The market is committed to maintaining strict control over new issuances while ensuring stability in the bond market, with a focus on reducing default rates [18]. Group 4: Support for Innovation and Growth - There is a greater emphasis on supporting sectors such as technology and innovation through platforms like the Sci-Tech Innovation Board and the Growth Enterprise Market [24]. - The market is encouraged to foster the growth of various industries and facilitate mergers and acquisitions to enhance overall market vitality [24].