证监会最新发声

Core Viewpoint - The article emphasizes the importance of enhancing the coordination between investment and financing in the capital market to promote high-quality development and better serve the real economy [1][3][4]. Group 1: Enhancing Long-term Investment - The China Securities Regulatory Commission (CSRC) aims to increase the proportion of long-term funds entering the market, with various long-term funds holding approximately 23 trillion yuan in A-share market value by the end of last year, a 36% increase from the beginning of the year [1]. - The scale of equity funds grew from 8.4 trillion yuan at the beginning of last year to around 11 trillion yuan [1]. Group 2: Strengthening Regulatory Effectiveness - The CSRC is committed to strict enforcement against severe illegal activities to enhance investor trust and confidence, focusing on significant cases and improving investor education and protection systems [2]. Group 3: Importance of Financing Function - Investment and financing are fundamental functions of the capital market, and a lack of financing capability undermines the market's ability to serve the real economy [3][4]. - Imbalances in investment and financing can increase market volatility and vulnerability, necessitating better alignment in terms of products, terms, risk characteristics, and preferences [4]. Group 4: Quality of Listed Companies - Improving the quality of listed companies is crucial for promoting investment and financing coordination, as high-quality companies attract stable long-term investments [5]. - The article highlights the need for a virtuous cycle where high-quality companies lead to better returns for investors, thereby enhancing financing efficiency [5]. Group 5: Protecting Small Investors - Protecting the legitimate rights and interests of small investors is a priority, given that over 250 million A-share investors are primarily small investors who face disadvantages in information access and risk identification [5]. Group 6: Seizing Development Opportunities - The article notes the global acceleration of technological revolutions and industry changes, which require the capital market to adapt and seize opportunities for high-quality development [6]. Group 7: Reforming Capital Market Structures - The CSRC plans to deepen reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market, enhancing services for technology innovation companies throughout their lifecycle [7]. Group 8: Improving Dividend Stability - There is a push for listed companies to enhance their value creation capabilities, improve governance, and ensure stable, sustainable, and predictable dividends for shareholders [8].