坚持战略引领，坚持固本强基 专家：资本市场将加快完善中长期发展制度框架

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has outlined five key areas of focus to enhance the capital market's framework for long-term development, aiming to support high-quality economic growth and stabilize market operations [1][2]. Group 1: Quality Improvement and Efficiency - The meeting emphasized the need for a stable yet progressive approach, focusing on risk prevention, strong regulation, and promoting high-quality development, which will guide the comprehensive reform of capital market financing [2][3]. - Experts believe that the capital market's "14th Five-Year Plan" will be aligned with national strategies, aiming to enhance market inclusivity and competitiveness while ensuring investor rights are protected [3][4]. Group 2: Strengthening Market Stability - The meeting highlighted the importance of enhancing the internal stability of the capital market, which relies on sound regulations and effective execution, including improving trading mechanisms and risk prevention systems [4][5]. - The approach of "solidifying the foundation" aims to strengthen key market components, thereby increasing resilience against external shocks and creating favorable conditions for subsequent reforms [4][5]. Group 3: Reform Initiatives - The meeting called for the implementation of reforms to increase the capital market's inclusivity and attractiveness, particularly through the deepening of the ChiNext and STAR Market reforms [6][7]. - The introduction of commercial real estate REITs is expected to enhance liquidity in the real estate sector and provide ordinary investors with new investment opportunities, potentially reshaping the financial ecosystem of real estate [7].