“长钱长投”为资本市场注入更多源头活水

Core Viewpoint - The implementation of the "Guiding Opinions" has significantly increased the scale and proportion of long-term funds entering the market, supporting a stable and positive capital market environment [1][5]. Group 1: Policy Implementation and Progress - The "Implementation Plan" was jointly issued by several regulatory bodies to address barriers to long-term fund entry into the market, introducing specific measures to facilitate this process [2]. - Long-term performance evaluation mechanisms for public funds and state-owned commercial insurance companies have been established, alleviating previous institutional barriers [2][3]. - As of August 2023, long-term funds held a market value of 21.4 trillion yuan in A-shares, reflecting a 28% increase since the beginning of the year [1]. Group 2: Investment Trends and Fund Growth - Insurance funds have increased their equity investment scale, with a total of 3.07 trillion yuan in stock holdings by insurance companies, marking a 26.38% increase from the previous year [5]. - Public fund management scale exceeded 36 trillion yuan, with equity funds surpassing 10 trillion yuan, making public funds the largest professional institutional investors in the A-share market [5]. - The number of stock ETFs reached 1,043, with a total scale of 3.63 trillion yuan, showing growth of 24.36% and 25.61% respectively since the end of last year [5]. Group 3: Enhancing Company Value and Market Environment - Regulatory measures have been taken to improve the quality and investment value of listed companies, including stricter controls on market entry and exit, and support for mergers and acquisitions [7]. - The introduction of guidelines for market capitalization management aims to enhance the quality of listed companies and promote reasonable market valuations [7]. - There is a need for improved corporate governance structures and incentive mechanisms to attract long-term investments [8]. Group 4: Attracting Foreign Investment - The regulatory authorities are focused on enhancing the attractiveness of the A-share market to foreign capital, with foreign investment currently holding a market value of 3.4 trillion yuan [8]. - Efforts are being made to expand the mutual recognition of funds between mainland China and Hong Kong, addressing tax issues and improving connectivity with global financial centers [9].