动能积聚 资本市场高质量发展启新程

Core Viewpoint - The recent release of the "Suggestions on Formulating the 15th Five-Year Plan for National Economic and Social Development" emphasizes the need to build a "functionally complete capital market" and improve its inclusiveness and adaptability, aiming for a high-quality development of the capital market [1] Group 1: Monetary Policy - Monetary policy plays a foundational role in supporting the long-term healthy development of the capital market by regulating liquidity, guiding fund allocation, and maintaining financial stability [2] - The People's Bank of China will continue to implement a moderately loose monetary policy to support the capital market's high-quality development [2] Group 2: Capital Market Reform - Capital market reforms are accelerating, enhancing internal stability [3] - The China Securities Regulatory Commission plans to promote high-quality development during the 15th Five-Year period by enhancing the inclusiveness and coverage of the multi-level market system and improving investor protection [3] Group 3: Risk Prevention - Strengthening risk prevention is essential for the long-term stability of the capital market [4] - A comprehensive macro-prudential management system will be established to mitigate cyclical fluctuations and prevent risk accumulation [4] Group 4: Fundamental Support - The fundamental support for the capital market's healthy development includes macroeconomic resilience and corporate profitability [5] - The 15th Five-Year Plan indicates that China's economic foundation remains strong, with significant advantages and potential, which will provide broader development space for the capital market [5]