吴清发表署名文章

Core Viewpoint - The article emphasizes the importance of enhancing the inclusiveness and adaptability of China's capital market system, aligning with the strategic deployment outlined in the 20th Central Committee's Fourth Plenary Session, which aims to support high-quality economic development and modernization goals [4][5]. Group 1: Significance of Enhancing Capital Market System - The enhancement of the capital market's inclusiveness and adaptability is crucial for better serving the development of new productive forces, as a vibrant capital market is key to promoting technological and industrial advancements [6]. - It is essential for ensuring that the benefits of development reach the broader population, as the capital market serves as a platform for over 2 billion stock and fund investors to share in economic growth [6]. - This enhancement is a necessary requirement for promoting high-quality development of the capital market and building a strong financial nation, as it will improve market structure and quality, thereby increasing competitiveness and international influence [7]. Group 2: Understanding the Core Principles - The capital market must maintain political and public orientation, ensuring that it aligns with the leadership of the Communist Party and protects the rights of investors, especially small and medium-sized ones [10]. - There is a need for better coordination between investment and financing, emphasizing a balanced approach that optimizes the financing structure and promotes the development of both primary and secondary markets [10]. - Reform and opening up are critical, focusing on market-oriented, legal, and international reforms to eliminate systemic barriers and enhance market vitality [10]. Group 3: Key Tasks and Measures - Actively develop direct financing through equity and bonds, enhancing the service capabilities for real enterprises and supporting the issuance of quality companies [13]. - Foster more high-quality listed companies by optimizing their structure and enhancing investment value, while encouraging cash dividends and buybacks to benefit investors [13]. - Create an attractive environment for long-term investments by establishing mechanisms that encourage the participation of long-term capital in the market [14]. - Improve the scientific and effective regulation of the capital market, adapting to rapid market changes and enhancing risk monitoring and prevention capabilities [15]. - Gradually expand high-level institutional openness in the capital market, promoting efficient capital flow and improving international competitiveness [15]. - Build a standardized, inclusive, and vibrant capital market ecosystem by strengthening legal frameworks and investor protection mechanisms [16].