北交所：加快推出北证50ETF 研究引入盘后固定价格交易

Core Viewpoint - The Beijing Stock Exchange (BSE) aims to enhance its support for innovative small and medium-sized enterprises (SMEs) during the 14th Five-Year Plan period, focusing on optimizing listing standards, improving trading mechanisms, and fostering a favorable investment environment [1][2]. Group 1: Market Development and Structure - The BSE currently has 280 listed companies, with over 80% being SMEs and nearly 90% being private enterprises, including more than half of the national-level specialized "little giant" companies [2]. - The BSE is committed to inclusive market access, supporting growth-stage and unprofitable companies in their listing endeavors while balancing regulatory costs for SMEs [2][3]. - The introduction of a market-making trading mechanism and the recent launch of the BSE Specialized and Innovative Index are part of the efforts to enhance trading convenience [2]. Group 2: Financial Support and Capital Market Integration - The BSE plans to strengthen its service capabilities in key strategic areas and sectors, focusing on the development of core technologies and supporting traditional industries' transformation [3][4]. - The exchange will promote the issuance of government bonds and expand the credit bond market, aiming to introduce more specialized bonds such as technology and green bonds [3]. - The BSE is working to optimize communication with various government departments to better support the cultivation of high-quality innovative enterprises [4]. Group 3: Investment and Fund Management - The BSE encourages listed companies to utilize refinancing, mergers and acquisitions, and equity incentives to enhance their strengths and return value to investors through dividends and buybacks [3]. - The exchange aims to cultivate long-term and patient capital by promoting the establishment of public funds focused on small and medium-sized stocks, providing targeted services for various types of funds [3][4]. - The BSE is actively seeking to enhance international cooperation and expand its market's internationalization, exploring partnerships in areas such as enterprises, investors, and products [4].