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Core Viewpoint - The strategic deployment of enhancing the inclusiveness and adaptability of the capital market, as outlined in the "14th Five-Year Plan," serves as a guiding principle for the reform and development of the capital market [1][2]. Group 1: Key Tasks and Measures - Six key tasks for enhancing the inclusiveness and adaptability of the capital market during the "14th Five-Year Plan" period have been identified: 1. Actively develop direct financing through equity and bonds 2. Foster more high-quality listed companies 3. Create a more attractive environment for long-term investments 4. Improve the scientific and effective nature of capital market regulation 5. Gradually expand high-level institutional openness in the capital market 6. Build a standardized, inclusive, and vibrant capital market ecosystem [2][4][5]. Group 2: Emphasis on Innovation and Public Benefit - The inclusiveness of the capital market is characterized by its ability to accept new economic forces and concern for the welfare of the majority of investors. It should identify and serve new industries, business models, and technologies, acting as a core "booster" for the development of new productive forces [4][5]. - The capital market is seen as a platform for the public to share in the economic development, with over 200 million stock investors and 700 million fund investors in China. The implementation of new policies has led to a stable recovery in the capital market, with projected cash dividends for investors reaching 2.4 trillion yuan in 2024 [6]. Group 3: Regulatory Adaptability and Market Stability - The adaptability of the capital market emphasizes the ability of the regulatory system to respond to internal and external changes, guiding and regulating market innovation. This includes building a comprehensive and efficient regulatory system for securities and futures [7][8]. - The focus is on enhancing the stability of the capital market by strengthening risk prevention and resolution mechanisms, utilizing modern technologies like big data and artificial intelligence to identify illegal activities and risks [7][9]. Group 4: International Competitiveness and Open Market - Expanding the high-level institutional openness of the capital market is crucial for enhancing its inclusiveness and adaptability. The recovery of the valuation of RMB assets since 2025 has increased global capital's willingness to invest in the domestic market [8][9]. - The approach involves promoting coordinated development between onshore and offshore markets, facilitating efficient capital flow, and improving the participation of foreign investors in the domestic capital market [8][9].