Core Insights - During the "14th Five-Year Plan" period, China's capital market has achieved steady growth in both "quantity" and "quality," laying a solid foundation for high-quality development in the "15th Five-Year Plan" [1] Regulatory Framework - A comprehensive regulatory framework has been established, with the implementation of the new Securities Law and the introduction of significant regulations such as the Futures and Derivatives Law and Private Fund Supervision Regulations, enhancing the legal system of China's capital market [1] Market Structure - The multi-layered and widely covered market system has been improved, with the A-share market's total market value surpassing 100 trillion yuan in August, and the introduction of various innovative financial products in the bond market [2] Investment and Financing - Over the past five years, the total financing through stock and bond markets reached 57.5 trillion yuan, with the direct financing ratio increasing to 31.6%, and over 90% of newly listed companies being technology-related [3] Market Stability Mechanisms - A collaborative market stability mechanism has been gradually improved, enhancing the resilience and risk resistance of the A-share market, with the annualized volatility of the Shanghai Composite Index decreasing by 2.8 percentage points [4] Market Environment - A fair and just market environment has been further established, with significant increases in administrative penalties for financial misconduct, enhancing market transparency and ecological integrity [4]

金融是国民经济的血脉，是国家核心竞争力的重要组成部分。 国务院新闻办公室22日举行"高质量完成'十四五'规划"系列主题新闻发布会，中国人民银行、金融监管 总局、中国证监会、国家外汇局四部门负责人介绍"十四五"时期我国金融业发展成就。 行业综合实力更加雄厚 新华社北京9月22日电 题：综合实力更加雄厚 服务质效显著提升——国新办发布会聚焦"十四五"时期金 融业发展成就 新华社记者李延霞、刘羽佳、张千千 截至今年6月末，中国银行业总资产近470万亿元，位居世界第一；股票、债券市场规模位居世界第二； 外汇储备规模连续20年位居世界第一……一组来自发布会的数据显示，我国金融业的国际竞争力和影响 力显著增强。 "在党中央坚强领导下，我国金融事业取得新的重大成就。金融体制改革全面深化，顶层设计更加完 善，我国金融治理体系和治理能力现代化迈上新台阶。"中国人民银行行长潘功胜表示。 金融监管总局局长李云泽表示，银行业保险业高质量发展实现新跨越，综合实力更加雄厚，全球最大信 贷和第二大保险市场地位更加稳固。 近年来，我国着力健全资本市场功能，提高直接融资比重。今年8月，A股市场总市值首次突破100万亿 元。中国证监会主席吴清表 ...

Core Viewpoint - The article emphasizes the achievements and future responsibilities of China's capital market development during the "14th Five-Year Plan" period, highlighting the need for continuous innovation and risk prevention in capital market construction [3]. Group 1: Achievements in Capital Market - Over the past five years, significant progress has been made in the capital market, with the A-share market's resilience and risk resistance notably enhanced, as evidenced by the Shanghai Composite Index's annualized volatility decreasing by 2.8 percentage points to 15.9% [3]. - The market capitalization of the technology sector now accounts for over 25% of the A-share market, with the number of technology companies in the top 50 by market capitalization increasing from 18 to 24 since the end of the "13th Five-Year Plan" [3]. Group 2: Regulatory Improvements - The transition from pilot to full implementation of the stock issuance registration system has been achieved, with various measures introduced to optimize the listing, merger, and investment processes, including the "Six Merger Rules" which have supported 230 major asset restructurings [4]. - The quality and investment value of listed companies have been enhanced, with a total of 10.6 trillion yuan distributed to investors through dividends and buybacks over the past five years, representing an increase of over 80% compared to the "13th Five-Year Plan" [5]. Group 3: Future Directions - The focus will be on improving the adaptability and inclusiveness of the capital market system, with reforms in the Sci-Tech Innovation Board and Growth Enterprise Market aimed at better supporting innovative enterprises [4]. - The next steps will involve deepening comprehensive reforms in investment and financing, enhancing the adaptability and inclusiveness of foundational systems, market functions, and regulatory enforcement to promote efficient resource allocation [6].

三是持续提升上市公司质量和投资价值，支持上市公司深耕主业、做精专业，强化董事、高管、控股股 东等"关键少数"责任，提升信息披露质量，持续涵养尊重投资者、回报投资者的股权文化，夯实市 场"稳"和"活"的微观基础。 四是提高监管的精准性、有效性，落实主责主业，依法从严监管，突出打大、打恶、打重点，把该管的 管好，同时坚持严而有度、严而有效，进一步完善市场监管和风险防范机制，塑造既"放得活"又"管得 住"的资本市场秩序，促进高质量发展。 证监会主席吴清9月22日在国新办举行的"高质量完成'十四五'规划"系列主题新闻发布会上表示，下一 步，证监会将坚持稳中求进、以进促稳，以深化投融资综合改革为牵引，不断提升基础制度、市场功 能、监管执法等各方面的适应性、包容性，促进资源更加高效配置，让优质企业和各类资金更好迸发活 力、实现价值。 一是增强多层次市场体系的适配性，以科创板、创业板"两创板"改革为抓手，推进发行上市、并购重组 等制度改革，更大力度支持创新，更好支持不同行业、不同类型、不同阶段的优质企业通过资本市场茁 壮成长。这需要进一步提升制度包容性。 二是更好发挥中长期资金"压舱石""稳定器"作用，持续强化长周期考核， ...

Core Viewpoint - The article discusses the achievements and developments of China's financial industry during the "14th Five-Year Plan" period, highlighting the progress in capital market reforms, regulatory frameworks, and the overall stability and growth of the market [2][3][4]. Regulatory Framework - A comprehensive regulatory framework has been established, with the implementation of the new Securities Law and the introduction of over 60 supporting rules, enhancing the legal system of the capital market [3][4]. - The "National Nine Articles" issued by the State Council has further strengthened regulatory measures to promote high-quality development in the capital market [3]. Market Structure - The multi-tiered market system has been improved, with significant advancements in the Sci-Tech Innovation Board, Growth Enterprise Market, and the establishment of the Beijing Stock Exchange [4]. - As of August, the total market capitalization of A-shares has surpassed 100 trillion yuan, indicating robust market growth [4]. Investment and Financing - In the past five years, the total financing through stock and bond markets reached 57.5 trillion yuan, with a direct financing ratio increasing by 2.8 percentage points to 31.6% [5]. - The technology sector has seen a significant increase in market capitalization, with over 90% of newly listed companies being tech-related, and the market cap of tech companies now exceeds 25% of the total A-share market [5]. Market Stability Mechanisms - A collaborative mechanism for market stability has been developed, enhancing the resilience and risk management capabilities of the A-share market, with the annualized volatility of the Shanghai Composite Index decreasing by 2.8 percentage points [6]. Fair Market Environment - A fair and just market environment has been fostered, with a significant increase in administrative penalties for financial misconduct, including a 58% rise in penalties for financial fraud [7]. Capital Market Reforms - Major breakthroughs in investment-side reforms have been achieved, including the implementation of a high-quality development action plan for public funds and the promotion of long-term capital market participation [8][9]. - The financing-side reforms have seen the full rollout of the stock issuance registration system, facilitating the listing of innovative companies [9][10]. Risk Management - The regulatory body has focused on maintaining market stability and preventing risks, with a low bond default rate of around 1% and the closure of numerous fraudulent financial institutions [12][13]. - Enhanced enforcement measures have been implemented to combat financial fraud, with significant penalties imposed on major offenders [13][14]. Future Outlook - The regulatory body aims to continue enhancing the adaptability and inclusiveness of the capital market, focusing on supporting high-quality enterprises and improving the overall market environment [16][17].

9月22日下午3时，国务院新闻办公室举行发布会，中国人民银行行长潘功胜，金融监管总局局长李云 泽，中国证监会主席吴清，中国人民银行副行长、国家外汇局局长朱鹤新介绍"十四五"时期金融业发展 成就。 在发布会上，吴清表示，对资本市场来说，过去五年也是极不寻常的五年。在中央金融办统筹协调下， 证监会与各方面一起认真抓好贯彻落实，一体推进防风险、强监管、促高质量发展，合力稳市场、稳预 期、稳信心，推动市场健康稳定发展的态势持续形成并不断巩固。 回顾一年前，2024年9月24日，国新办举行关于金融支持经济高质量发展的新闻发布会，央行、金融监 管总局、证监会联合宣布了一系列重磅金融政策，"924"行情随之启动，带来了一年时间的慢牛行情。 数据显示，截至9月22日收盘，其中上证指数累计上涨超39%，创业板指数累计大涨超103%。A股最新 总市值达104万亿元，近一年来增长大约36万亿元。 坚持监管"长牙带刺"、有棱有角 在介绍"十四五"时期金融业发展成就时，吴清主要介绍了五个方面。 第一，"四梁八柱"的法规制度体系建构成型。以新证券法实施为契机，对相关法规制度进行系统"立改 废释"，期货和衍生品法、私募基金监管条例等一些历 ...

新华财经北京9月22日电 22日，中国证监会主席吴清在国新办发布会上表示，去年"926"以来，一系列 政策有力促进资本市场稳定发展，科技创新与产业创新加快融合发展，一批现象级科技企业和创新产品 相继"出圈"，"中国资产"的吸引力明显增强。 吴清介绍，下一步，证监会将不断提升基础制度、市场功能、监管执法等各方面的适应性、包容性，让 优质企业和各类资金更好迸发活力、实现价值。 三是持续提升上市公司质量和投资价值。夯实市场"稳"和"活"的微观基础。 四是提高监管的精准性、有效性。塑造既"放得活"又"管得住"的资本市场秩序，促进高质量发展。 "回顾过去5年，我们交出了一份沉甸甸的答卷，硕果累累，展望未来5年，我们信心满满。"吴清说，未 来将锚定目标、久久为功，不断开创资本市场高质量发展新局面。 （文章来源：新华财经） 一是增强多层次资本市场体系的适配性。更大力度支持创新，更好支持不同行业、不同类型、不同阶段 的优质企业通过资本市场茁壮成长。 二是更好发挥中长期资金"压舱石""稳定器"作用。努力让更多全球资本投资中国、共享成长。 ...

登录新浪财经APP 搜索【信披】查看更多考评等级 9月22日，国务院新闻办公室在北京举行"高质量完成'十四五'规划"系列主题新闻发布会，中国人民银 行行长潘功胜，金融监管总局局长李云泽，中国证监会主席吴清，中国人民银行副行长、国家外汇局局 长朱鹤新介绍"十四五"时期金融业发展情况，并答记者问。 会上，证监会主席吴清介绍了"十四五"期间资本市场发展情况，要点汇总来了。 吴清最新发声！A股市场韧性和抗风险能力明显增强 含"科"量进一步提升 吴清在国新办新闻发布会上表示，近年来新上市的企业中，有九成以上都是科技企业或科技含量较高的 企业。吴清指出，目前A股科技板块的市值占比已经超过了四分之一，明显高于金融加房地产板块（包 括银行、非银行金融机构和房地产企业）。市值前50名公司中，科技企业从"十三五"末的18家提升到当 前的24家。 证监会主席吴清：资本市场实现量的稳步增长和质的有效提升 感谢广大投资者 吴清提到，"十四五"期间，上市公司通过分红、回购派发"红包"合计超过10.6万亿元，比"十三五"增长 超过8成，相当于同期股票IPO和再融资金额的2.07倍。同时，"十四五"期间A股市场韧性和抗风险能力 明显增强，上 ...

投资和融资相协调的市场功能不断健全。近五年，交易所市场股债融资合计达到57.5万亿元，直接融资 比重稳中有升，较"十三五"末提升2.8个百分点，达到31.6%。资本市场服务科技创新跑出"加速度"，资 本市场含"科"量进一步提升。近年来，新上市企业中九成以上都是科技企业或者科技含量比较高的企 业。目前，A股科技板块市值占比超过1/4，已明显高于银行、非银金融、房地产行业市值合计占比。市 值前50名公司中科技企业从"十三五"末的18家提升至当前的24家。上市公司主动回报投资者的意识明显 增强，这5年上市公司通过分红、回购派发"红包"合计达到10.6万亿元，比"十三五"增长超过8成，相当 于同期股票IPO和再融资金额的2.07倍。与此同时，证监会也在积极推进完善资本形成机制和中长期资 金入市机制。 协同发力的稳市机制逐步完善。面对多重超预期风险挑战，在党中央、国务院统筹部署下，证监会协同 各宏观管理、金融管理、国资部门和相关市场主体加强政策对冲、资金对冲、预期对冲，有效防范市场 大幅波动和系统性风险。"十四五"期间，A股市场韧性和抗风险能力明显增强，上证综指年化波动率 15.9%，较"十三五"下降2.8个百分点。 ...

二是多层次、广覆盖的市场体系更加完备。 纵深推进科创板、创业板改革，成功设立并高质量推进北交所建设，持续深化新三板改革，稳步发展结 构合理、功能互补的多层次股权市场。今年8月，A股市场总市值首次突破了100万亿元。交易所债券市 场产品日趋丰富，公募REITs、科创债、资产证券化等一些创新品种也在加快发展。全市场期货期权品 种达到157个，广泛覆盖了国民经济主要的产业领域，同时还设立了广期所，更好地促进绿色发展。 三是投资和融资相协调的市场功能不断健全。 近五年，交易所市场股债融资合计达到57.5万亿元，直接融资比重稳中有升，较"十三五"末提升了2.8个 百分点，达到了31.6%。资本市场服务科技创新跑出"加速度"，资本市场含科量进一步提升。近年来， 新上市企业九成以上都是科技企业或者科技含量比较高的企业。目前A股科技板块市值占比超过1/4，已 明显高于银行、非银金融、房地产行业市值合计占比。市值前50名公司当中科技企业从"十三五"末的18 家提升到当前的24家。同时，上市公司主动回报投资者的意识也明显的增强。这五年，上市公司通过分 红回购派发红包，合计达到10.6万亿元，比"十三五"增长超过八成，相当于同期股 ...