XZB(SH:603040) Zheng Quan Shi Bao·2025-10-30 04:25Core Insights - The ChiNext board has evolved from an "innovation testing ground" to a "source of innovation power" supporting China's modernization efforts over its 16 years of operation [1] - The China Securities Regulatory Commission (CSRC) has announced the launch of reforms aimed at deepening the ChiNext board, which is crucial for fostering new productive forces and establishing a self-reliant industrial system amid global competition [1][2] Summary by Sections Development and Significance - The ChiNext board currently has about 90% of its companies in high-tech sectors, with nearly 70% belonging to strategic emerging industries, serving as a vital financing platform and a key hub connecting innovation, industry, and capital [1] - The reforms are seen as a strategic choice to enhance the capital market's ability to serve national strategies and high-quality development needs, especially in the context of the "14th Five-Year Plan" [1][2] Reform Details - The reforms propose to establish listing standards that better align with the characteristics of emerging fields and future industries, potentially broadening the growth pathways for new industries and technologies [2] - Historical milestones in China's capital market, such as the introduction of the registration system on the Sci-Tech Innovation Board, highlight the unique advantages and vitality of the market, responding to the needs of development and modernization [2]