Core Viewpoint - The article emphasizes the importance of enhancing the inclusiveness and adaptability of the capital market system during the "14th Five-Year Plan" period, outlining six key tasks to achieve this goal [1][2]. Group 1: Key Tasks for Capital Market Improvement - Actively develop direct financing through equity and bonds, focusing on reforms in the Sci-Tech Innovation Board and the Growth Enterprise Market to enhance service capabilities for real enterprises [4][5]. - Promote the cultivation of more high-quality listed companies, optimizing the structure of listed companies and enhancing their investment value [4][6]. - Create a more attractive environment for long-term investments, ensuring that long-term capital is willing to enter, stay, and thrive in the market [5][6]. Group 2: Regulatory and Market Environment Enhancements - Enhance the scientific and effective regulation of the capital market, adapting to rapid market changes and improving risk monitoring and response mechanisms [6][7]. - Gradually expand the high-level institutional openness of the capital market, promoting efficient capital flow and resource allocation while improving international competitiveness [7][8]. - Foster a standardized, inclusive, and vibrant capital market ecosystem, strengthening legal frameworks and investor protection mechanisms [7][8].

Core Viewpoint - The article emphasizes the need to enhance the inclusiveness and adaptability of China's capital market system, focusing on supporting technological innovation and improving the overall quality of capital market development [1][2]. Group 1: Capital Market Development - The capital market has a solid foundation for stable and healthy operation during the "15th Five-Year Plan" period, but quality issues remain prominent [1]. - There is a call for comprehensive deepening of capital market reforms to improve its inclusiveness, adaptability, attractiveness, and competitiveness [1][2]. Group 2: Financing and Investment - The focus is on actively developing direct financing through equity and bonds, with an emphasis on reforming the Sci-Tech Innovation Board and the Growth Enterprise Market [2]. - The aim is to enhance the service capabilities for real enterprises throughout their lifecycle and to support high-quality companies in issuing and listing [2]. Group 3: Regulatory Framework - The article highlights the importance of improving the scientific and effective nature of capital market regulation, including the establishment of a comprehensive regulatory system [3]. - There is a commitment to using modern technologies like big data and artificial intelligence to identify illegal activities and risks [3]. Group 4: Market Environment - The creation of a favorable environment for long-term capital investment is emphasized, including the establishment of mechanisms for long-term assessments of various funds [3]. - The article advocates for the development of public funds and the promotion of high-quality index investment [3]. Group 5: International Cooperation - The need for a gradual and coordinated development of onshore and offshore markets is stressed, aiming to enhance the international competitiveness of China's capital market [4]. - There is a focus on improving the convenience for foreign investors and institutions to participate in the Chinese capital market [4]. Group 6: Legal and Institutional Framework - Strengthening the legal framework of the capital market is highlighted, including the revision of relevant laws and regulations to create a fair market environment [4][5]. - The article calls for the establishment of investor protection mechanisms and the promotion of rational, value-based, and long-term investment [4].