吴清主席在国新办新闻发布会上答记者问

Core Viewpoint - The article emphasizes the Chinese government's commitment to stabilizing the capital market and enhancing investor confidence through a series of financial policies and measures in response to external economic pressures, particularly from U.S. tariff policies [2][3][6]. Group 1: Market Stability Measures - The China Securities Regulatory Commission (CSRC) has implemented a comprehensive set of policies to stabilize the market, including actions from various financial authorities and encouraging companies to buy back shares to maintain stock price stability [3][4]. - The central government has highlighted the importance of maintaining a stable and active capital market, reflecting its high priority on market stability and expectations [3][6]. - The CSRC aims to consolidate the market's recovery momentum by enhancing market monitoring and risk assessment, and supporting the Central Huijin Investment Ltd. to act as a stabilizing fund [4][6]. Group 2: Support for Innovation and Long-term Investment - The CSRC plans to introduce reforms for the Science and Technology Innovation Board and the Growth Enterprise Market to enhance institutional inclusivity and adaptability [4]. - There is a focus on developing technology innovation bonds and optimizing the issuance process to provide comprehensive financial services for innovative enterprises [4][5]. - The CSRC is committed to increasing the participation of long-term funds in the market, promoting high-quality development of public funds, and fostering a virtuous cycle of returns, capital inflow, and market stability [5][6]. Group 3: Response to Tariff Impacts - The article discusses the impact of U.S. tariffs on A-share listed companies, noting that most companies derive a significant portion of their revenue from domestic markets, which provides resilience against external shocks [8][9]. - A substantial increase in export revenue from 4.9 trillion yuan in 2018 to 9.4 trillion yuan in 2024 is highlighted, indicating a diversification of export markets and reduced reliance on the U.S. [8]. - The CSRC is actively helping affected companies by enhancing regulatory flexibility and supporting their transformation and upgrading through mergers and acquisitions [9][10]. Group 4: Foreign Investment and Market Openness - The CSRC is focused on enhancing the openness of the capital market, facilitating foreign investment participation, and optimizing the Qualified Foreign Institutional Investor (QFII) system [11][12]. - Despite external uncertainties, the strategic direction for high-quality economic development remains clear, bolstering foreign investor confidence in the Chinese market [13]. - The CSRC plans to expand institutional openness, enrich product offerings, and deepen market access for foreign investors, thereby enhancing the overall investment environment [13][14]. Group 5: Public Fund Development - The CSRC has launched the "Action Plan for Promoting the High-Quality Development of Public Funds," aimed at aligning fund operations with investor interests and enhancing long-term investment stability [16][17]. - Key reforms include optimizing fund fee structures, improving performance evaluation metrics, and increasing the accountability of fund managers to ensure better returns for investors [17][18]. - The growth of equity funds from 7 trillion yuan to 8.3 trillion yuan since September indicates a positive trend in public fund development, with ongoing efforts to promote innovative fund products [18].