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吴清发声!提高资本市场制度包容性、适应性
Zhong Guo Zheng Quan Bao·2025-10-31 13:41

Core Viewpoint - The article emphasizes the importance of enhancing the inclusiveness and adaptability of the capital market during the "15th Five-Year Plan" period, outlining key tasks and measures to achieve this goal [1][6]. Group 1: Direct Financing Development - Actively develop direct financing through equity and bonds, focusing on deepening reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market to enhance service capabilities for real enterprises [6]. - Promote the cultivation of more high-quality listed companies, optimizing the structure of listed companies and enhancing their investment value [6]. Group 2: Investor Wealth Management - Enhance the capital market's ability to meet diverse wealth management needs of investors, creating a multi-layered market system and product service matrix [2][6]. - Strengthen the protection of investors' rights, particularly for small and medium investors, ensuring a balance between investment and financing [5]. Group 3: Regulatory Improvements - Improve the scientific and effective nature of capital market regulation, adapting to rapid market changes and enhancing risk monitoring and response capabilities [3][7]. - Utilize modern technologies such as big data and artificial intelligence to identify illegal activities and risks effectively [7]. Group 4: Market Openness - Gradually expand high-level institutional openness in the capital market, promoting the coordinated development of onshore and offshore markets [8]. - Support enterprises in utilizing both domestic and international markets and resources, enhancing the convenience for foreign investors [8]. Group 5: Market Ecology - Foster a standardized, inclusive, and vibrant capital market ecosystem by strengthening legal frameworks and investor protection mechanisms [8][9]. - Encourage a societal atmosphere that promotes innovation and tolerates failure, enhancing the overall investment environment [9].