证监会主席吴清：进一步深化投融资综合改革

Core Viewpoint - The 2025 Financial Street Forum emphasizes the need for innovation and reform in the global financial development landscape, highlighting the resilience and growth of China's capital markets amid various challenges [1] Group 1: Market Reform and Development - The China Securities Regulatory Commission (CSRC) aims to deepen reforms in the multi-tiered market system, enhancing inclusivity and coverage, with the introduction of new listing standards for emerging industries and innovative enterprises [2] - The CSRC plans to promote high-quality development of the Beijing Stock Exchange and improve the differentiated listing, information disclosure, and trading systems of the New Third Board [2] Group 2: Strengthening Market Stability - High-quality listed companies are deemed essential for the stable operation of capital markets, with plans to introduce a refinancing framework and broaden merger and acquisition support channels [3] - The CSRC emphasizes the importance of long-term funds as stabilizers in the market, promoting reforms in public funds and enhancing long-term investment products and risk management tools [3] Group 3: Opening Up and International Cooperation - The CSRC has launched an optimized Qualified Foreign Institutional Investor (QFII) scheme to enhance transparency and efficiency for foreign investors, including streamlined approval processes and expanded investment scopes [4] - Efforts will be made to improve the mutual connectivity mechanisms and deepen cooperation between mainland and Hong Kong markets [4] Group 4: Risk Prevention and Investor Protection - The CSRC is focused on enhancing risk prevention capabilities and regulatory enforcement to protect investor rights, including measures against financial fraud and market manipulation [5] - A set of 23 practical measures will be introduced to strengthen the protection of small and medium investors, ensuring a fair trading environment and improving service levels in the industry [5]