资本市场多措并举赋能新质生产力发展

Core Insights - The approval of 16 technology-themed funds, including AI and chip ETFs, signals regulatory support for "hard technology" companies to access long-term capital [1][2] Group 1: Regulatory Support for Technology - Regulatory bodies are actively facilitating long-term capital support for "hard technology" enterprises, which is crucial for the development of new productive forces [2] - The capital market is enhancing its inclusivity and adaptability to provide a more flexible financing environment for enterprises related to new productive forces [3] - The economic value added from "three new" sectors (new industries, new business formats, new business models) is projected to reach 242.908 billion yuan in 2024, growing by 6.7% year-on-year, accounting for 18.01% of GDP [3] Group 2: Multi-Layered Market System - The multi-tiered market system effectively expands coverage for technology innovation, providing full-cycle capital support for different types of enterprises [4] - The Science and Technology Innovation Board focuses on "hard technology," while other boards serve various segments of innovative enterprises, ensuring comprehensive support for technology companies [4] Group 3: Financial Tools and Services - Innovative financial tools and services are being developed to offer diverse financing options, aiding enterprise growth [5] - The bond market is innovating to support strategic sectors, with the introduction of a "technology board" to guide funds towards early-stage, small, long-term investments in hard technology [5] - From May 7 to November 25, 2025, the technology innovation bond market issued 1,317 bonds, with a total issuance scale of 1.5 trillion yuan [5] Group 4: Patient Capital - The growth of patient capital is essential for providing stable funding sources for technology innovation [6] - Regulatory bodies are broadening channels for medium- and long-term capital to enter the market, creating an attractive environment for long-term investments [6] - Future efforts will focus on nurturing patient and long-term capital to support technological and industrial innovation [6]