Core Viewpoint - The article discusses the "Action Plan" released by Shenzhen's local financial management bureau and the Shenzhen Securities Regulatory Bureau, aiming to enhance the role of the capital market in building an industrial financial center by 2025-2026, focusing on high-quality development and innovation capital aggregation [1]. Group 1: Cultivating Patient Capital - The "Action Plan" emphasizes the cultivation of "patient capital" to support long-term investments in technology innovation, with state-owned and government investment funds taking a more proactive role [3]. - As of December 2024, Shenzhen has 1,599 private equity and venture capital fund managers, with a total management scale of 1.41 trillion yuan, leading the nation in the number of new funds established in 2024 [3]. - The plan proposes optimizing the coordination between debt and equity financing for tech enterprises, supporting high-tech companies in bond financing, and facilitating participation in the new "technology board" for qualified firms [3]. Group 2: Enhancing Listed Company Value - Shenzhen has 584 listed companies, ranking third nationally, with a market capitalization of approximately 8.61 trillion yuan [6]. - The "Action Plan" aims to improve the quality of listed companies by enhancing governance, promoting cash dividends, and supporting share buybacks, with over 2,300 billion yuan in dividends distributed in 2024 [6][7]. - In 2024, Shenzhen's listed companies invested about 1,999 billion yuan in R&D, marking a 9.54% increase year-on-year, with over 170 companies in strategic emerging industries [7]. Group 3: Building a First-Class Capital Market Ecosystem - The "Action Plan" encourages leading financial institutions to strengthen through mergers and acquisitions and supports differentiated development for smaller institutions [9]. - As of December 2024, Shenzhen has 23 securities firms, 32 public fund management companies, and 3,107 private fund managers, all ranking among the top nationally [9]. - The plan supports the Shenzhen Stock Exchange in enhancing the multi-tiered capital market system, with over 700 billion yuan raised through direct financing in 2024 [10]. Group 4: Promoting Mergers and Acquisitions - The "Action Plan" highlights the role of capital markets in facilitating mergers and acquisitions, with 184 disclosed projects amounting to 406.87 billion yuan since the introduction of new policies [7]. - Shenzhen's listed companies are encouraged to strengthen industry integration and develop into industry leaders, with significant support from financial institutions for M&A loans [7].
刚刚，利好来了！深圳，重磅发布！
证券时报·2025-05-09 11:03