Sou Hu Cai Jing·2025-11-21 05:21Core Insights - Shenzhen's capital market has shown remarkable performance in the "14th Five-Year Plan" period, with a total of 424 A-share listed companies and a market capitalization exceeding 11 trillion yuan, ranking second nationwide [1][6] - The direct financing scale in Shenzhen has reached a historic high of over 2.8 trillion yuan, marking a more than 50% increase compared to the "13th Five-Year Plan" period, positioning it third among major cities in China [3] - The innovation and competitiveness of market entities in Shenzhen have significantly improved, with total market capitalization surpassing 11.5 trillion yuan and projected revenues exceeding 6.8 trillion yuan for 2024 [6] Financing and Investment - The cumulative equity financing in Shenzhen has exceeded 400 billion yuan, with 110 companies raising over 110 billion yuan through IPOs [3] - The bond market financing, including ABS, has surpassed 2.4 trillion yuan, with public REITs leading in fundraising [3] - Shenzhen's private equity and venture capital fund scale is expected to reach nearly 1.37 trillion yuan by September 2025, supporting over 13,800 small and medium-sized enterprises [4] Market Dynamics - The R&D investment of Shenzhen-listed companies is projected to reach 210.3 billion yuan in 2024, a 91.35% increase from 2020, with BYD leading the investment at over 54 billion yuan [6] - In the first three quarters of this year, 24 securities companies in Shenzhen achieved revenues exceeding 100 billion yuan, while 31 public fund management companies managed assets totaling 12.3 trillion yuan [6] Financial Innovations and Investor Protection - Shenzhen has made significant strides in financial innovations, with over 800 billion yuan raised through technology-themed public funds and more than 5 trillion yuan in total assets for these funds [8] - The city has implemented various investor protection mechanisms, with nearly 990 billion yuan in cumulative dividends distributed by listed companies during the "14th Five-Year Plan" period [9] Future Outlook - Looking ahead to the "15th Five-Year Plan," Shenzhen aims to focus on developing new productive forces, deepening reforms, enhancing financial services for the real economy, and protecting investors' rights [10]