上交所副理事长霍瑞戎，最新发声！

Core Viewpoint - The Shanghai Stock Exchange (SSE) aims to deepen comprehensive reforms in investment and financing, accelerating a new round of capital market reforms to enhance market attractiveness and inclusivity, thereby better serving technological innovation and the development of new productive forces [2][3]. Group 1: Capital Market Development - As of September 11, the number of Science and Technology Innovation Board (STAR Market) ETFs reached 97, with a total scale of 280 billion yuan [3]. - The STAR Market has become the A-share sector with the highest proportion of index investment, playing a significant role in attracting funds towards new productive forces and guiding long-term capital into the market [3][6]. Group 2: Policy Implementation - The SSE has been actively promoting the "STAR Market Eight Articles" and "M&A Six Articles" policies since June, focusing on the "1+6" reform policies to enhance the quality of listed companies [6][8]. - Over 1,000 enterprises and institutions have been covered in policy promotion activities, with training sessions conducted for 200 market entities, including sponsors and law firms [6]. Group 3: Case Studies and Standards - The SSE has restarted the fifth set of listing standards for the STAR Market, receiving 15 new IPO applications, including four from unprofitable companies [7]. - The introduction of a system for seasoned professional institutional investors has been initiated, with companies like Tianomai Bo disclosing relevant information [7]. Group 4: Institutional Development - All supporting institutional rules have been published and implemented, with 320,000 unprofitable companies included in the STAR Growth Layer [8]. - As of now, 4.75 million investors have opened trading permissions for the growth layer, indicating a robust investor engagement [8]. Group 5: Industry Growth and Innovation - Traditional industries are actively exploring new technologies for transformation, with significant profit growth reported in the steel (235% YoY) and machinery (21% YoY) sectors in the first half of 2025 [10]. - The total R&D investment by real enterprises reached 432.6 billion yuan in the first half of the year, with STAR Market companies investing 84.1 billion yuan, which is 2.8 times their net profit, leading the A-share market [10].