持续稳定和活跃资本市场

Core Viewpoint - The recent meeting of the Central Political Bureau emphasizes the importance of maintaining a stable and active capital market to enhance the attractiveness and competitiveness of Chinese assets in a complex global economic environment [1] Group 1: Market Stability - The Chinese government has implemented a series of measures to stabilize the capital market in response to external shocks, particularly from the U.S. government's imposition of tariffs, which has significantly impacted international trade and financial markets [1] - The stability of the market is crucial as it directly affects market expectations, financing functions, and overall market confidence [1] - A stable market not only ensures smooth operations but also makes market rules and functions more predictable [1] Group 2: Market Activity - An active capital market is essential for providing robust support to the real economy, with over 50% of A-share companies being in strategic emerging industries, indicating a close relationship between the capital market and the real economy [2] - Enhancing market vitality and attractiveness is vital for improving liquidity, meeting diverse financing needs, and promoting better financing for technology innovation enterprises [2] - A stable and active capital market can better facilitate the integration of technological and industrial innovation, driving high-quality economic development [2] Group 3: Investment and Regulation - Coordinated efforts on both investment and financing sides are key to ensuring that capital effectively supports innovation [3] - There is a focus on deepening reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market to enhance the inclusiveness and adaptability of the system, optimizing the structure of listed companies [3] - Creating a stable, transparent, and predictable regulatory environment is essential, balancing high standards with the need for effective problem-solving and reform [4] - The goal is to stimulate market vitality through reform and innovation, attracting more market funds to support innovation and entrepreneurship [4] Group 4: Economic Outlook - Despite external complexities, the direction for high-quality economic development in China remains clear and firm, with macro policies becoming more stable and predictable [4] - There is confidence and capability to maintain a stable and active capital market, providing strong support for high-quality economic development [4]