证监会最新发声！事关“十五五”资本市场改革

Core Viewpoint - The China Securities Regulatory Commission (CSRC) emphasizes the importance of the 14th Five-Year Plan period for advancing China's modernization and building a strong financial nation, focusing on risk prevention, strong regulation, and promoting high-quality development [1] Group 1: Capital Market Development - The CSRC aims to deepen comprehensive reforms in investment and financing, enhancing the inclusiveness and adaptability of the system to promote qualitative improvements and reasonable quantitative growth in the capital market [2][3] - As of the end of last year, various long-term funds held approximately 23 trillion yuan in A-share market value, a 36% increase from the beginning of the year [5][6] Group 2: Support for Innovation and Technology - The CSRC is committed to enhancing the precision and effectiveness of services for technology innovation enterprises, advancing reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market, and optimizing the private equity and venture capital cycle [2][6] - The market's technological content is increasing, with the total market value of the electronics industry surpassing that of the banking sector, making it the largest industry in A-shares [6] Group 3: Enhancing Company Value - The CSRC is focused on improving the value creation capabilities of listed companies, promoting stricter information disclosure, and enhancing shareholder return awareness, with cash dividends from A-share companies reaching a record high of 2.55 trillion yuan last year [3][6] - The number of major asset restructurings exceeded 200 last year, indicating a significant increase in market activity [6] Group 4: Regulatory Effectiveness - The CSRC is enhancing regulatory enforcement effectiveness, focusing on investor education and protection, and cracking down on various illegal activities, including financial fraud [3][7] - Since the beginning of 2024, 159 financial fraud cases have been investigated, with serious accountability measures taken against major shareholders and actual controllers involved in 43 cases [7]