“投资者点题 代表委员作答”｜如何提高上市公司质量，让投资者更有信心长期持有？·2026全国两会特别策划

Core Viewpoint - The article emphasizes the importance of enhancing the quality of listed companies to ensure sustainable returns for investors and strengthen the foundation of the capital market [1]. Group 1: Improving Corporate Governance - The first step in enhancing the quality of listed companies is to improve corporate governance, addressing issues such as ineffective internal controls and lack of independence among independent directors [3]. - Suggestions include establishing a national, non-profit independent director association to promote professional oversight and protect the rights of minority investors [3]. - Recommendations also involve creating sustainability rating standards for companies in the photovoltaic industry to monitor financial metrics and prevent risks [3]. Group 2: Strengthening Dividend Policies - In 2025, A-share listed companies achieved a record cash dividend of 2.55 trillion yuan, highlighting the need for more stable and reliable returns [5]. - High-frequency and high-proportion dividends reflect improved profitability and cash flow, as well as enhanced corporate governance and shareholder awareness [5]. - Suggestions for optimizing dividend policies include making cash flow a core constraint and improving accountability mechanisms for major shareholders [6]. Group 3: Promoting Industrial Upgrades - Enhancing the quality of listed companies is crucial for serving new productive forces and driving industrial upgrades [8]. - Private equity funds are seen as key players in improving corporate governance and facilitating industry consolidation [8]. - Recommendations include relaxing certain regulatory requirements for mergers and acquisitions to encourage collaboration between high-quality funds and listed companies [8]. Group 4: Overall Impact on the Capital Market - The improvement of listed company quality is fundamental for the healthy development of the capital market and enhances investor satisfaction [9]. - As more high-quality companies emerge, the capital market will become more resilient and vibrant, benefiting both investors and the real economy [9].