证监会：研究优化新股发行制度，稳步扩大做市商队伍

Core Viewpoint - The speech emphasizes the importance of enhancing market functions and regulatory standards to support the innovative development of small and medium-sized enterprises (SMEs) through high-quality financial services [1] Group 1: Market Dynamics and Capital - The need to focus on market dynamic balance and cultivate patient capital is highlighted [1] - Increasing the investment value of listed companies is positioned as a priority [1] Group 2: Regulatory Improvements - The normalization of listings on the Beijing Stock Exchange is emphasized, along with the need to improve the "full chain" issuance regulatory arrangements [1] - Responsibilities at each stage of the issuance process must be reinforced [1] Group 3: New Issuance System and Market Participation - Research is needed to optimize the new stock issuance system and gradually expand the market maker team to provide more participation opportunities and investment convenience [1] - There is a call to actively guide various types of medium- and long-term funds into the market [1] Group 4: Fund Development and Investment Attraction - The establishment of special funds at the local level to participate in market construction is encouraged to expand the professional investor base [1] - Focus on addressing bottlenecks in the private equity fund lifecycle to attract more patient capital towards innovative SMEs [1]