多地绘就资本市场发展路线图！服务硬科技和并购重组成关键词

Group 1: Capital Market Development - Local governments are increasingly focusing on guiding capital towards technology innovation and emerging industries, reflecting a strategic approach to enhance the role of capital markets in supporting the real economy [1][3] - Various regions, including Shaanxi, Guangdong, and Zhejiang, have introduced measures to support the listing and financing of technology-driven enterprises, aiming to create a favorable environment for hard technology companies [3][4] - By December 4, 100 companies have gone public this year, raising over 100 billion yuan, with Jiangsu, Guangdong, and Zhejiang leading in the number of IPOs [5] Group 2: Encouragement of Mergers and Acquisitions - The mergers and acquisitions market has remained active this year, supported by a series of policies aimed at enhancing the institutional framework for such activities [7][8] - Beijing and Shenzhen have released plans to promote high-quality development through mergers and acquisitions, particularly in strategic emerging industries like artificial intelligence and biomedicine [7][8] - Local governments are establishing state-owned capital merger funds to invest in advantageous local industries and strategic emerging sectors, facilitating the integration of resources and accelerating the commercialization of new technologies [8] Group 3: Strengthening Corporate Governance - The governance of listed companies is transitioning from mere compliance to effective substance, with local governments focusing on improving incentive and restraint mechanisms [9][10] - Shaanxi's measures emphasize the need for a stable and predictable cash dividend mechanism to enhance shareholder returns [11] - Guizhou's plan highlights the importance of independent directors and audit committees in strengthening corporate governance and internal controls, with A-share companies announcing or implementing mid-year dividends exceeding 760 billion yuan [12]