通州·全球发展论坛分论坛三隆重举行，专家热议全球资本市场发展新格局

Group 1 - The forum focuses on the new pattern of global capital market development, emphasizing opportunities, challenges, and innovative paths [2][22] - The strategic positioning of China's capital market has been elevated, shifting its core function from traditional financing to incentivizing social innovation and wealth management [5] - The need for systematic restructuring of the capital market ecosystem is highlighted, including reforms in the asset side, funding side, and regulatory framework to enhance market transparency and compliance [5] Group 2 - The global financial market is facing challenges of integration and segmentation, particularly due to the impact of the 2008 financial crisis and ongoing geopolitical tensions [7] - The imbalance in financial globalization levels between developed and emerging markets poses significant external pressures on the latter [7] - The importance of balancing openness and security in China's financial strategy is emphasized, advocating for high-quality openness and alignment with international regulatory standards [7] Group 3 - The impact of the US-China trade war on international capital flows is discussed, noting that US funds have shown resilience while non-US funds have reduced exposure to affected companies [12] - The valuation trends of technology companies during the Fourth Industrial Revolution are characterized by high valuations and the need for optimized institutional support for hard technology enterprises [14] - The emergence of digital assets is reshaping the capital market ecosystem, with a focus on the role of stablecoins and their implications for traditional finance [16][17]