Core Viewpoint - The meeting emphasized the importance of implementing the spirit of the 20th Central Committee's Fourth Plenary Session, focusing on the strategic planning for the 15th Five-Year Plan and the need for the China Securities Regulatory Commission (CSRC) to enhance its regulatory framework and support for high-quality economic development [1][2][3]. Group 1: Meeting Highlights - The meeting recognized the significant achievements made in the past five years under the leadership of the Central Committee, attributing these successes to the guidance of Xi Jinping's thoughts on socialism with Chinese characteristics for a new era [2]. - The CSRC is tasked with improving its political stance and aligning its actions with the Central Committee's decisions, emphasizing the importance of risk prevention and high-quality development in the capital market [3]. Group 2: Strategic Focus Areas - The CSRC aims to enhance the resilience and risk resistance of the capital market by fostering high-quality listed companies and establishing a stable market ecosystem [3]. - There is a focus on improving the inclusiveness and adaptability of capital market regulations, including reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market [3]. - The meeting highlighted the need for effective regulatory enforcement, emphasizing strict actions against securities and futures violations, and enhancing legal frameworks to protect investor rights [3]. - The CSRC plans to deepen the opening of the capital market, balancing openness with security, and supporting Hong Kong's status as an international financial center [3]. - Strengthening the integrity and construction of the CSRC's workforce is also a priority, with a commitment to anti-corruption and improving the regulatory team's capabilities [3][4].

同时，着力提高资本市场制度的包容性、适应性。深化科创板、创业板改革，充分发挥新三板、私募股 权和创业投资等多层次股权市场培育功能，强化债券和期货市场功能发挥。 此外，着力提升监管执法的有效性和震慑力；推动资本市场开放迈向更深层次、更高水平。加快建设世 界一流交易所，支持香港巩固提升国际金融中心地位。深化国际监管合作，切实提升开放环境下的风险 防控水平和监管能力。 文/王兆寰 编辑：麻晓超 10月24日晚间，证监会发布消息称，要进一步深化投融资综合改革，持续增强我国资本市场的包容性、 适应性和吸引力、竞争力，更好服务"十五五"发展目标和金融强国建设。 当天，中国证监会党委书记、主席吴清主持召开党委（扩大）会议，认真传达学习党的二十届四中全会 精神，研究部署贯彻落实举措。 会议强调，要着力增强资本市场的韧性和抗风险能力。培育和发展高质量的上市公司群体，完善"长钱 长投"的市场生态，加强长效化稳市机制建设，持续夯实市场稳定的内在基础。 ...

Core Viewpoint - The China Securities Regulatory Commission (CSRC) emphasizes the importance of implementing the spirit of the 20th Central Committee's Fourth Plenary Session, focusing on risk prevention, strong regulation, and promoting high-quality development in the capital market [1][2]. Group 1: Enhancing Market Resilience and Risk Management - The CSRC aims to strengthen the resilience and risk management capabilities of the capital market by cultivating high-quality listed companies and improving the long-term investment ecosystem [1]. - There is a focus on establishing a stable market mechanism to solidify the internal foundation for market stability [1]. Group 2: Improving Market Inclusiveness and Adaptability - The CSRC plans to deepen reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market, enhancing the nurturing functions of multi-tiered equity markets such as the New Third Board, private equity, and venture capital [2]. - Strengthening the functions of the bond and futures markets is also a priority [2]. Group 3: Enhancing Regulatory Effectiveness - The CSRC will intensify efforts to combat various securities and futures violations, accelerating the advancement of digital and intelligent regulation [1]. - There is a commitment to improving legal frameworks and enhancing the protection of investor rights [1]. Group 4: Promoting Market Openness - The CSRC aims to advance the opening of the capital market to a deeper and higher level, balancing openness with security [2]. - Efforts will be made to support Hong Kong in consolidating its status as an international financial center and to enhance international regulatory cooperation [2]. Group 5: Strengthening Internal Governance - The CSRC emphasizes the importance of party discipline and the construction of a competent regulatory team, focusing on accountability and continuous improvement in governance [2]. - There is a commitment to rigorous oversight and the promotion of a culture of integrity within the organization [2].

本报记者 吴晓璐 据中国证监会网站消息，10月24日，中国证监会党委书记、主席吴清主持召开党委（扩大）会议，认真传达学习党的二十 届四中全会精神，按照金融系统学习贯彻党的二十届四中全会精神会议的工作要求，研究部署贯彻落实举措。 二是着力提高资本市场制度的包容性、适应性。深化科创板、创业板改革，充分发挥新三板、私募股权和创业投资等多层 次股权市场培育功能，强化债券和期货市场功能发挥。 三是着力提升监管执法的有效性和震慑力。突出打大打恶打重点，依法从严打击各类证券期货违法违规活动，加快推进数 字化、智能化监管，加强资本市场法治建设，不断提升监管效能和投资者权益保护质效。 四是着力推动资本市场开放迈向更深层次、更高水平。统筹开放与安全，有序推进市场、产品和机构双向开放，加快建设 世界一流交易所，支持香港巩固提升国际金融中心地位。深化国际监管合作，切实提升开放环境下的风险防控水平和监管能 力。 五是着力加强证监会系统党风廉政建设和干部队伍建设。压实管党治党政治责任，扎实推进中央巡视整改和作风建设常态 化长效化，自觉接受驻证监会纪检监察组等各方面监督和指导，坚定不移正风肃纪反腐。坚持严管厚爱结合、激励约束并重， 加快锻 ...

Core Viewpoint - The article emphasizes the importance of the 20th Central Committee's Fourth Plenary Session in guiding China's economic and social development for the next five years, highlighting the need for the China Securities Regulatory Commission (CSRC) to align its actions with the central government's directives [2][3]. Group 1: Key Measures and Strategies - The CSRC aims to enhance the resilience and risk resistance of the capital market by fostering high-quality listed companies and establishing a stable market ecosystem [4]. - The focus will be on improving the inclusiveness and adaptability of capital market systems, including reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market [4]. - The CSRC plans to increase the effectiveness and deterrence of regulatory enforcement by strictly combating various securities and futures violations [4]. - There is a commitment to advancing the opening of the capital market to a deeper and higher level, balancing openness with security, and enhancing international regulatory cooperation [4]. - Strengthening the party's integrity and the construction of the regulatory team is a priority, ensuring accountability and effective governance within the CSRC [5]. Group 2: Implementation and Training - The CSRC will prioritize the study and implementation of the Plenary Session's spirit as a major political task, organizing training and promoting understanding throughout the system [5]. - There will be a focus on aligning with the Plenary Session's directives, conducting thorough research, and planning strategic tasks for the capital market during the 15th Five-Year Plan [5]. - The CSRC is committed to achieving its annual work goals and ensuring a solid foundation for the high-quality development of the capital market in the upcoming 15th Five-Year Plan [5].

Core Viewpoint - The meeting emphasized the importance of implementing the spirit of the 20th Central Committee's Fourth Plenary Session, focusing on the strategic planning for the 15th Five-Year Plan and the need for the China Securities Regulatory Commission (CSRC) to enhance its regulatory framework and market resilience [1][2][3]. Group 1: Meeting Highlights - The meeting recognized the significant achievements made in the past five years under the leadership of the Central Committee, attributing these successes to the guidance of Xi Jinping's thoughts on socialism with Chinese characteristics [2]. - The CSRC is tasked with improving its political stance and aligning its actions with the Central Committee's decisions, emphasizing the importance of risk prevention and high-quality development in the capital market [3]. Group 2: Strategic Focus Areas - The CSRC aims to enhance the resilience and risk resistance of the capital market by fostering high-quality listed companies and establishing a stable market ecosystem [3]. - There is a focus on improving the inclusiveness and adaptability of capital market regulations, including reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market [3]. - The meeting highlighted the need for effective regulatory enforcement, targeting illegal activities in the securities and futures markets, and enhancing investor protection [3]. - The CSRC plans to deepen the opening of the capital market, balancing openness with security, and supporting Hong Kong's status as an international financial center [3]. - Strengthening the integrity and construction of the CSRC's workforce is also a priority, with an emphasis on accountability and anti-corruption measures [3][4].

Core Viewpoint - The article emphasizes the importance of the 20th Central Committee's Fourth Plenary Session, highlighting its role in guiding China's economic and social development for the next five years, particularly in the context of achieving socialist modernization [2][3]. Group 1: Meeting Insights - The meeting led by the Chairman of the China Securities Regulatory Commission (CSRC) focused on implementing the spirit of the 20th Central Committee's Fourth Plenary Session, which is crucial for the upcoming "15th Five-Year Plan" [2]. - The meeting acknowledged the significant achievements made in the past five years under the leadership of the Central Committee, attributing these successes to the guidance of Xi Jinping's thoughts on socialism with Chinese characteristics [3]. Group 2: Strategic Directions - The CSRC aims to enhance the resilience and risk resistance of the capital market by fostering high-quality listed companies and establishing a stable market ecosystem [4]. - There is a focus on improving the inclusiveness and adaptability of capital market systems, including reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market [4]. - The meeting highlighted the need to strengthen regulatory enforcement and effectiveness, emphasizing the importance of combating securities violations and enhancing investor protection [4]. Group 3: Future Actions - The CSRC is tasked with making the study and implementation of the Plenary Session's spirit a major political task, ensuring that it is deeply integrated into the system [5]. - The organization is expected to align its strategies with the Plenary Session's directives, conducting thorough research to plan for the capital market's strategic tasks during the "15th Five-Year Plan" [5]. - The meeting concluded with a commitment to achieving the annual work goals and ensuring a solid foundation for high-quality development in the capital market [5].

Core Viewpoint - The article emphasizes the importance of the 20th Central Committee's Fourth Plenary Session in guiding China's economic and social development for the next five years, highlighting the need for the China Securities Regulatory Commission (CSRC) to align its actions with the central government's directives [2][3]. Group 1: Key Measures for Capital Market Development - The CSRC aims to enhance the resilience and risk resistance of the capital market by fostering high-quality listed companies and establishing a stable market ecosystem [4]. - The focus will be on improving the inclusiveness and adaptability of capital market systems, including reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market [5]. - The CSRC plans to enhance the effectiveness and deterrence of regulatory enforcement, targeting serious violations in the securities and futures markets [5]. - There is a commitment to advancing the opening of the capital market to a deeper and higher level, balancing openness with security, and supporting Hong Kong's status as an international financial center [5]. - Strengthening the party's integrity and the construction of the regulatory team within the CSRC is also a priority, ensuring accountability and effective governance [5]. Group 2: Implementation and Training - The CSRC will prioritize the study and implementation of the plenary session's spirit as a major political task, organizing training and enhancing the understanding of its significance across the system [6]. - There will be a focus on aligning with the plenary session's directives, conducting thorough research, and planning strategic tasks for the capital market during the 15th Five-Year Plan [6]. - The CSRC is committed to achieving its annual work goals and ensuring a solid foundation for the high-quality development of the capital market in the upcoming 15th Five-Year Plan [6].

中国证监会党委班子成员，驻证监会纪检监察组负责同志，会机关各司局和上海、深圳、北京证券交易所主要负责同志参加会议。 下载财联社APP获取更多资讯 准确 快速 权威 专业 7x24h电报 头条新闻 VIP资讯 实时盯盘 会议指出，过去五年，面对错综复杂的国际形势和艰巨繁重的国内改革发展稳定任务，以习近平同志为核心的党中央团结带领全党全国各族人民， 迎难而上、砥砺前行，推动我国经济社会发展取得新的重大成就。这些成就的取得，根本在于以习近平同志为核心的党中央领航掌舵，在于习近平 新时代中国特色社会主义思想科学指引。证监会系统要切实提高政治站位，深入学习贯彻习近平总书记重要讲话精神，深刻领会党的二十届四中全 会的重大意义和"十五五"时期经济社会发展的指导思想、重大原则、目标任务、根本保证，更加自觉地把思想和行动统一到党中央的科学判断和决策 部署上来，扎扎实实办好自己的事，以实际行动坚定拥护"两个确立"、坚决做到"两个维护"。 会议强调，证监会系统要认真贯彻落实习近平总书记重要讲话精神和全会决策部署，牢牢把握"六个坚持"，坚守监管的政治性、人民性，紧扣防风 险、强监管、促高质量发展的工作主线，进一步深化投融资综合改革， ...

Group 1 - The core viewpoint of the articles highlights the increasing trend of spin-off listings among A-share companies, with 25 companies updating their capital operation plans this year, reflecting a market-driven characteristic of steady progress and strategic adjustments [1][2] - Among the 25 companies, 5 have successfully completed spin-off listings, while 9 have terminated their plans due to market changes or strategic shifts, and 11 are in various stages of review and approval [1] - The spin-off listings are primarily concentrated in high-tech industries such as information technology, advanced equipment manufacturing, and new materials, indicating a strong recognition of technological innovation and industrial upgrading by the capital market [1][5] Group 2 - The "A拆A" model has diversified listing paths across multiple capital market platforms, including the main board, Sci-Tech Innovation Board, Growth Enterprise Market, and Beijing Stock Exchange, enhancing the success rate of spin-off listings [2] - The selection of listing locations also includes "A拆H," with 8 companies planning to list their subsidiaries on the Hong Kong main board, which helps enhance international influence and optimize financing structures [4] - Regulatory reforms since 2025 have provided a solid institutional guarantee and favorable market environment for the orderly advancement of spin-off listings, allowing companies to better implement their development strategies [4][5]