陈昌智：构建投融资协同、内外资兼容、各参与方良性互动的资本市场生态体系

Core Viewpoint - The essence of promoting the reconstruction of the capital market ecosystem is to build a collaborative investment and financing system that is compatible with both domestic and foreign capital, allowing all participants to interact positively, thereby ensuring that capital returns to serve the real economy [2][3] Group 1: Capital Market Reform - Recent directives from the central government have clearly outlined the reform roadmap for the capital market in the coming phase [3] - On the financing side, there is a need to optimize the system arrangements for the Sci-Tech Innovation Board and the Growth Enterprise Market to enhance inclusivity for new industries, new business formats, and new technologies, facilitating financing channels for "hard tech" companies [3] - On the investment side, the goal is to expand the professional institutional investor base and improve mechanisms for long-term capital entering the market, allowing stock and fund investors to share in the benefits of real economic development [3] - On the regulatory side, there is an emphasis on strengthening technological empowerment, rigorously cracking down on illegal activities, and constructing a healthy market ecosystem [3]