媒体视点 | 吴清：提高资本市场制度的包容性适应性（学习贯彻党的二十届四中全会精神）

Core Viewpoint - The article emphasizes the importance of enhancing the inclusiveness and adaptability of the capital market as a strategic deployment by the central government to achieve the goals of the 15th Five-Year Plan, aiming for a well-functioning capital market that coordinates investment and financing [2][3]. Group 1: Significance of Enhancing Capital Market Inclusiveness and Adaptability - The enhancement of capital market inclusiveness and adaptability is crucial for better serving the development of new productive forces, as a vibrant capital market is essential for promoting technological and industrial advancements [4][5]. - It is also necessary to ensure that the benefits of development reach the general public, as the capital market serves as a platform for over 200 million stock investors and 700 million fund investors to share in the economic growth [5][6]. - This enhancement is a 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 the core competitiveness and international influence of China's capital market [6][7]. Group 2: Understanding the Connotation and Principles of Enhancing Capital Market Inclusiveness and Adaptability - The capital market has a solid foundation for stable and healthy operation, but challenges remain, including the need for structural optimization and increased long-term capital inflow [7][8]. - The principles for enhancing inclusiveness and adaptability include maintaining political integrity, coordinating investment and financing, leveraging reform and opening up, and ensuring market stability [8][9]. Group 3: Key Tasks and Measures for Enhancing Capital Market Inclusiveness and Adaptability - The development of direct financing through equity and bonds is a key measure, with a focus on supporting innovative enterprises and enhancing the service capabilities of the capital market [11][12]. - There is a need to cultivate more high-quality listed companies, optimize their structure, and enhance their investment value through reforms in mergers and acquisitions [12][13]. - Creating an attractive environment for long-term investments is essential, which includes establishing mechanisms for long-term capital and promoting the development of public funds [12][13]. - Improving the scientific and effective regulation of the capital market is necessary to adapt to rapid market changes and enhance stability [13][14]. - Expanding high-level institutional openness in the capital market is vital for enhancing international competitiveness and facilitating efficient capital flow [14][15]. - Finally, fostering a regulated, inclusive, and vibrant capital market ecosystem is crucial, which includes strengthening legal frameworks and investor protection mechanisms [15].