专访张晓晶：中国经济迈向科技驱动新范式，资本市场成战略棋眼

Group 1 - The core viewpoint of the article emphasizes the historical transformation of China's capital market, shifting from reliance on bank credit for industrialization to supporting technological innovation through venture capital and risk capital [1][6] - The capital market is seen as essential for driving technological breakthroughs and nurturing strategic emerging industries, highlighting its unique advantages in risk identification, pricing, and allocation compared to the banking system [1][6][7] - Four key driving forces are identified that provide a solid foundation for the capital market's sustained growth: the revaluation potential of technology assets, clear financial stability policies, unique risk diversification value of the Chinese market, and the growth dividends of high-quality domestic enterprises [1][8][9] Group 2 - Recent developments indicate an increasing support for technological innovation within the capital market, with companies like Moore Threads and Muxi Co. receiving approval for their IPOs on the Sci-Tech Innovation Board [2] - The article discusses the need for a more inclusive capital market environment for technology companies, focusing on the transformation of risk and return perceptions, the establishment of a valuation system for intangible assets, and the encouragement of patient capital [11][12] - The relationship between technology and consumption is described as a dual driving force for economic growth, with both sectors playing complementary roles in enhancing the overall economic landscape [13][14] Group 3 - The article outlines strategies to enhance ordinary investors' experience in the capital market, emphasizing the importance of a robust information disclosure system, improved market entry and exit mechanisms, and a well-defined investment return mechanism [18][19][20] - The significance of capital market openness is highlighted, suggesting that attracting international enterprises and capital can enhance competition and efficiency within the market, ultimately benefiting domestic investors [22][23] - The need for a stable and attractive capital market environment is stressed as a prerequisite for advancing high-level openness, with a focus on maintaining regulatory integrity while promoting market accessibility [24]