建言资本市场发展，黄奇帆、高培勇、吴晓求、丁志杰最新发声！

Group 1: Core Insights - The forum highlighted the importance of improving the capital market in China through various mechanisms, including enhancing direct financing and optimizing financial structures [1][2][5][8] Group 2: Huang Qifan's Suggestions - Huang Qifan proposed the establishment of an equity guidance fund involving banks, social security, insurance, and foreign exchange funds to increase direct financing [2][4] - He estimated that if 3% of bank capital, 30% of social security funds, and 30% of insurance funds were allocated to equity investments, it could generate approximately 40 to 50 trillion yuan for equity investment funds [4] Group 3: Gao Peiyong's Views - Gao Peiyong emphasized that establishing a sound expectation management mechanism is crucial for improving the governance of the capital market and the macroeconomic governance system [5][7] - He outlined a framework for expectation management that includes integrating expectation factors into macroeconomic analysis, guiding expectations in policy objectives, and reform actions in macroeconomic regulation [7] Group 4: Wu Xiaoqiu's Reform Focus - Wu Xiaoqiu identified three key areas for reform in the capital market: asset side, investment side, and institutional side, to meet diverse financing needs and wealth management demands [8][10] - He stressed the need to adjust the structure of listed companies to prioritize high-tech and innovative enterprises, which are essential for capital market growth [10] Group 5: Ding Zhijie's Insights - Ding Zhijie pointed out that there is significant room for optimizing China's financial structure, particularly by converting long-term household savings in banks into patient capital for direct financing [11][13] - He noted that the annualized return on pension funds in the capital market exceeds 5%, indicating the potential benefits of channeling more funds into the capital market [13]