北京六部门联手“引长钱”

Core Viewpoint - The Beijing Securities Regulatory Bureau, in collaboration with various local government departments, has introduced the "Implementation Opinions" to attract more long-term capital into the market, aiming to promote the healthy development of the capital market [1][3]. Group 1: Key Measures - The "Implementation Opinions" outlines four key measures: optimizing market ecology, developing equity funds, improving the investment environment for pension and insurance funds, and encouraging bank wealth management and trust funds to participate in the capital market [3][4]. - The first measure focuses on establishing a long-term performance evaluation mechanism for commercial insurance funds and enhancing the quality of listed companies in Beijing, encouraging eligible companies to repurchase shares [3][4]. - The second measure emphasizes the development of public equity funds and the stable growth of private equity funds, shifting fund companies' focus from scale to investor returns [3]. - The third measure aims to enhance the investment flexibility of enterprise annuities and personal pensions, supporting differentiated investment choices [3][4]. - The fourth measure encourages bank wealth management and trust funds to actively participate in the capital market by optimizing assessment mechanisms and improving market access [4]. Group 2: Progress and Achievements - As a result of previous policy initiatives, there has been significant progress in attracting long-term capital in Beijing, with 45 listed companies implementing share repurchases totaling 19.33 billion yuan and 285 companies distributing cash dividends amounting to 605.4 billion yuan [6]. - The public fund fee reform has led to the reduction of fees for 838 actively managed equity funds, saving investors approximately 10 billion yuan annually [6]. - By the end of September 2025, Beijing fund companies managed 1,090 equity funds with a total scale of 1.94 trillion yuan, reflecting year-on-year growth of 19.0% in number and 25.56% in scale [6]. - A long-term evaluation system has been established for public funds, with indicators set for occupational and enterprise annuities [6]. Group 3: Innovation in Financial Instruments - Beijing has achieved a significant milestone with the successful issuance of the first long-term technology innovation corporate bond on the Beijing Stock Exchange, amounting to 500 million yuan with a five-year term and an interest rate of 2.29% [8]. - The bond issuance is part of a project aimed at supporting strategic emerging industries such as integrated circuits, life sciences, artificial intelligence, new energy, and new materials, showcasing the commitment of long-term capital to hard technology sectors [8]. Group 4: Future Directions - The Beijing Securities Regulatory Bureau plans to strengthen policy coordination and information sharing with relevant departments to ensure the effective implementation of the "Implementation Opinions" and further solidify the market ecology for long-term investments [9].