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, highlighting the need for a supportive regulatory environment and improved investor confidence. Group 1: Investment and Financing Coordination - The China Securities Regulatory Commission (CSRC) aims to improve the institutional environment for long-term investments, encouraging various types of medium- and long-term funds to increase their market participation. As of the end of last year, medium- and long-term funds held approximately 23 trillion yuan in A-share market value, a 36% increase from the beginning of the year [3]. - Investment and financing are fundamental functions of the capital market that are interdependent. A lack of financing capabilities undermines the market's ability to serve the real economy, while insufficient investment capabilities jeopardize sustainable market development [5][6]. Group 2: Regulatory Effectiveness and Investor Protection - The CSRC plans to enhance the effectiveness of regulatory enforcement and improve the investor education and protection system. This includes strict regulation and punishment of severe violations, aiming to boost investor trust and confidence [4]. - The article highlights the need for a dynamic adjustment process in investment and financing coordination, rather than a static balance, to mitigate market volatility and vulnerabilities [6]. Group 3: Quality of Listed Companies - Improving the quality of listed companies is crucial for promoting investment and financing coordination. High-quality companies attract stable long-term investments, creating a positive cycle of investment returns and efficient financing [7]. - If the quality of listed companies is inadequate, even temporarily inflated stock prices will not be sustainable, ultimately damaging investor confidence and hindering the financing function [7]. Group 4: Support for Technological Innovation Enterprises - The CSRC will enhance its services for technology innovation enterprises, advancing reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market, and improving the multi-tiered capital market system [8].