今日视点：跃马扬鞭奔向资本市场新征程

Group 1 - The core viewpoint of the articles highlights the significant progress and resilience of China's capital market in 2025, marked by historical milestones such as the total market value of A-shares exceeding 100 trillion yuan and annual trading volume surpassing 400 trillion yuan [1][2] - The capital market has undergone profound changes, driven by institutional reforms and structural optimization, leading to a more solid market foundation and enhanced global resource integration [1][2] - The rise of "hard technology" companies has been a standout feature, with technology firms now representing 27% of A-share companies valued over 100 billion yuan, up from 12% a decade ago [2] Group 2 - The central economic work conference emphasized the importance of continuing to deepen comprehensive reforms in capital market investment and financing, indicating a shift from "deepening" to "continuing to deepen" reforms [3] - Specific measures include fostering high-quality listed companies, enhancing corporate governance, and promoting long-term capital investment mechanisms, which are expected to inject strong financial momentum into high-quality economic development [3][4] - The anticipated reforms aim to activate the market's internal dynamics, improve transparency and efficiency, and strengthen the role of institutional investors in leading long-term and value investments [4]