中国证监会主席吴清：提高资本市场制度的包容性适应性

Core Viewpoint - The article emphasizes the need to enhance the inclusiveness and adaptability of China's capital market system as it transitions towards high-quality development, marking a significant reform phase in the capital market's evolution [1][2]. Group 1: Importance of Inclusiveness and Adaptability - The enhancement of the capital market's inclusiveness and adaptability is crucial for better serving the new quality of productive forces and ensuring that development benefits the broader population [2] - This initiative is seen as essential for promoting high-quality development of the capital market and building a strong financial nation, as well as for constructing a higher-level open economy [2]. Group 2: Principles for Reform - The reform should be guided by goal-oriented and problem-oriented approaches, focusing on improving the coordination between investment and financing functions within the capital market [3] - Key principles include maintaining the political and public nature of capital market work, better coordinating investment and financing, leveraging reform and opening-up, and ensuring market stability [3]. Group 3: Key Tasks and Measures - Six key tasks have been identified for enhancing the capital market's inclusiveness and adaptability during the 15th Five-Year Plan period: 1. Actively develop direct financing through equity and bonds, enhancing support for high-quality enterprises and improving the service capabilities of intermediary institutions [4] 2. Foster more listed companies that meet high-quality development standards, supporting corporate transformation and encouraging cash dividends and buybacks [4] 3. Create a more attractive environment for long-term investments, promoting the development of public funds and private equity [5] 4. Improve the scientific and effective nature of capital market regulation, utilizing modern technologies for better risk monitoring and enforcement [5] 5. Gradually expand the high-level institutional opening of the capital market, enhancing international competitiveness and facilitating efficient capital flow [6] 6. Build a standardized, inclusive, and vibrant capital market ecosystem, strengthening legal frameworks and investor protection mechanisms [6].