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新华社权威速览·非凡“十四五”丨资本市场健康稳定发展态势持续形成并不断巩固
Xin Hua Wang· 2025-09-22 12:06
Group 1 - The core viewpoint emphasizes the collaboration between the China Securities Regulatory Commission (CSRC) and various stakeholders to promote risk prevention, strengthen regulation, and encourage high-quality development, aiming to stabilize the market, expectations, and confidence [1] Group 2 - The regulatory framework for the "14th Five-Year Plan" has been significantly shaped, with the introduction of laws such as the Futures and Derivatives Law and Private Fund Supervision Regulations, alongside over 60 supporting rules from the CSRC [2] Group 3 - The market structure has become more comprehensive, with reforms in the Sci-Tech Innovation Board and the establishment of the Beijing Stock Exchange, contributing to a total market capitalization of A-shares exceeding 100 trillion yuan for the first time in August [4] Group 4 - In the past five years, the total financing through stock and bond markets has reached 57.5 trillion yuan, with a 2.8 percentage point increase in the proportion of direct financing compared to the end of the "13th Five-Year Plan" [5] Group 5 - The resilience and risk resistance of the A-share market have improved, with the annualized volatility of the Shanghai Composite Index at 15.9%, a decrease of 2.8 percentage points compared to the "13th Five-Year Plan" [6]