证监会副主席：没有融资功能 资本市场服务实体经济就无从谈起

Core Viewpoint - The Vice Chairman of the China Securities Regulatory Commission, Chen Huaping, emphasized the importance of coordinating investment and financing functions in the capital market, highlighting their interdependent nature and the need for dynamic adjustments in this process [1]. Group 1: Investment and Financing Functions - Investment and financing are fundamental functions of the capital market, which are complementary and essential for the market's sustainable development [1]. - Without financing, the capital market cannot effectively serve the real economy, and without investment, sustainable market development becomes unattainable [1]. Group 2: Market Dynamics - A significant imbalance in investment and financing can increase market volatility and amplify market vulnerabilities [1]. - There is a need for better alignment between investment and financing in terms of product duration, risk characteristics, and preferences [1]. Group 3: Dynamic Coordination - The coordination of investment and financing is not a static balance at a single point in time but rather a dynamic process that requires continuous adjustments [1].