中国人民大学校长马怀德：聚力打造资本市场三个生态链

Core Viewpoint - The current scale of China's capital market has risen to the forefront globally, with significant improvements in market structure and multiple innovative breakthroughs, driven by a systematic reshaping and continuous enhancement of the internal ecological structure of the market [1][3]. Group 1: Strategic Significance - The capital market should focus on its strategic significance and work towards creating a vibrant ecological chain. This involves strengthening innovation orientation, enriching the supply system of financial products, and enhancing inclusivity towards new industries, new business formats, and new technologies [3]. - The aim is to promote a virtuous cycle among technology, industry, and finance, facilitating the aggregation of advanced production factors towards new productive forces and stimulating the innovative vitality of all market participants [3]. Group 2: Open and Shared Ecosystem - The ecological chain should be built on the notable characteristics of the capital market, emphasizing open and shared principles. This includes promoting the integration of high-quality resources and ensuring efficient flow of innovative elements such as talent, technology, and capital across the entire chain [3]. - The goal is to enhance market vitality and international competitiveness, providing robust financial support for modernization efforts [3]. Group 3: Regulatory Transparency - The ecological chain must adhere to the inherent requirements of the capital market, focusing on creating a regulated and transparent ecosystem. This requires a legal framework that adapts to rapid market developments and accelerates the establishment of a comprehensive regulatory system [4]. - Legal principles should be integrated throughout the market operation process to foster a stable, transparent, and predictable market environment, thereby laying a solid institutional foundation for the healthy development of the capital market and supporting the broader goal of building a strong financial nation [4].