三是从持续的力度上体现了落实投融资协调发展任务的长期性。"健全投资和融资相协调的资本市场功能"被写入《中共中 央关于进一步全面深化改革、推进中国式现代化的决定》，也被纳入"十五五"规划建议。去年12月份召开的中央经济工作会议 提出，持续深化资本市场投融资综合改革。其中，"持续"表明了改革的力度，不是短时间就可以完成，而是一项长期任务。 四是从综合的宽度上突出了做好投资融资相协调工作的系统性。中央经济工作会议上对落实"健全投资和融资相协调的资 本市场功能"这一重大任务提出了"持续深化资本市场投融资综合改革"的要求，其中"综合改革"突出了投融资协调发展是一项系 统工程，要营造投融资协调发展所需的生态体系。 要形成投融资协调发展的生态系统，屠光绍认为，需要从三方面入手，首先，要把投资融资协调发展健全资本市场功能纳 入整个经济金融发展的整体当中来考虑；其次，要完善投融资协调发展体系，包括投融资领域协调，融资方面支持科创和新质 生产力，投资对应要发展风险投资、股权投资等；投融资主体协调，即融资主体与投资主体匹配，要鼓励长期资金、耐心资本 入市，优化投资人结构；投融资行为协调，随着融资市场化程度提升，要注重投资短长期回报 ...

中国人民银行副行长陆磊表示，将强化金融与各行业部门的联动协作，推动建立发布通道重大项目库、 重点物流企业和物流园区名录库、通道相关企业清单等"两库一清单"，针对清单内企业的融资结算便利 化需求，加强多元化保障支持。加强财政金融联动，鼓励和支持有条件的地区探索以融资贴息、风险分 担等形式，支持通道发展重点领域、薄弱环节的融资和金融创新。 中国证监会债券司副司长黄建山在会上回答中国证券报记者提问时表示，将支持各类主体综合运用好权 益融资、债券融资和资产盘活等工具的优势特点，促进资本形成，进一步发挥好资本市场服务西部陆海 新通道建设的功能作用。 研究形成全域统一的通道金融规则标准 "西部陆海新通道覆盖了我国西部12个省区市以及海南省、怀化市和湛江市，很多基础设施和经贸物流 项目跨省域甚至跨国，在金融政策方面，需要更好协同以全方位发挥质效。"陆磊表示，人民银行将会 同相关部门和省区市，探索构建纵向贯通、横向联动、分工协作、相互支撑的工作机制，推动意见落实 落细。 陆磊表示，将指导沿线省区市人民银行分行加强政策、信息、数据共享，进一步强化交流互鉴机制，协 调解决金融服务问题，研究形成全域统一的通道金融规则标准，在绿色金 ...

"十四五"以来，安徽新增境内上市公司62家，超过"十二五""十三五"新增数量总和。2025年以来，安徽 在多层次资本市场上捷报频传，截至11月末，全省境内上市公司总数达186家，较"十三五"末增长近 50%，境内上市公司数量跃升至全国第7位。科创板上市公司为24家，居全国第6位。 作为目前唯一全面、系统地研究、展示安徽上市公司和资本市场发展状况的年度报告，《安徽上市公司 发展报告（2025）》在论坛上正式发布，这是连续第八年发布。此外，论坛上还集中发布了安徽上市公 司综合发展能力50强、综合业绩20强、总投资规模20强、营运能力20强、创新能力20强、ESG绩效20强 等系列榜单。 本报讯 （记者徐一鸣）12月9日，"2025（第八届）安徽上市公司高质量发展论坛暨安徽上市公司发展 报告发布会"在合肥举行。 这是2018年以来，第八次举办安徽上市公司高质量发展论坛。本届论坛以"健全资本市场功能增强高质 量发展动力"为主题，知名专家学者、证券交易机构、投资机构及上市公司、后备上市公司负责人等参 加论坛。 ...

Core Viewpoint - The speech by Liu Jianjun at the "2025 Sci-Tech Investment Conference" highlights significant development opportunities for equity and venture capital funds in China, driven by the "14th Five-Year Plan" recommendations, focusing on two main aspects: investment opportunities in "4+5" industries and creating a favorable investment environment [1][2]. Investment Opportunities - The "4" major industry investment opportunities include optimizing traditional industries, nurturing emerging and future industries, promoting high-quality development in the service sector, and constructing a modern infrastructure system, particularly in new infrastructure [1]. - The "5" special industry investment opportunities focus on emerging sectors such as modern agriculture, health care, green transformation, national security, and military industries. Examples include implementing seed industry revitalization, advancing traditional Chinese medicine, supporting innovative drugs and medical devices, and enhancing national security capabilities in emerging fields like AI and biotechnology [1]. Investment Environment - Liu Jianjun emphasizes the importance of a stable macroeconomic environment, a healthy capital market, and a stable macro tax environment to foster the development of equity and venture capital funds. Key measures include leveraging government investment funds, innovating regulatory approaches, and improving the overseas investment environment for enterprises [2]. - The need for proactive macroeconomic policies, including monetary policy adjustments, is highlighted to address unprecedented global changes and ensure stable growth, employment, and expectations [2]. Policy Environment - The "14th Five-Year Plan" is expected to create a stable macro tax environment through enhancing fiscal sustainability, refining tax policies, and improving income distribution systems. This includes supporting the expansion of the middle-income group and regulating excessive income [3]. - Liu Jianjun suggests that structural tax incentives for venture capital funds should be carefully designed, taking into account China's unique circumstances and learning from international experiences, particularly focusing on promoting long-term investment incentives [3].

Core Viewpoint - The article emphasizes the importance of high-level financial openness in China, highlighting the need for coordinated reforms to support the internationalization of the Renminbi and the opening of capital accounts, while ensuring that these efforts align with domestic economic development [1][3][14]. Group 1: Financial Openness and Reform - Financial openness is crucial for promoting reform and development, but it requires deeper reforms to address the unique challenges posed by financial markets [2][3]. - Historical examples show that financial crises in emerging markets often stem from delayed domestic reforms following financial liberalization [2][3]. - The current global economic environment presents both opportunities and challenges for China's financial openness, necessitating a careful balance between opening up and ensuring domestic stability [3][14]. Group 2: Key Reforms for High-Level Openness - Strengthening the domestic circulation system is essential, with a focus on enhancing consumption, investment, and the overall market structure to support the Renminbi's international status [5][6]. - Enhancing technological innovation capabilities is vital for maintaining competitiveness in the face of external pressures and fostering new productive forces [7]. - Improving the protection of property rights is critical for attracting both domestic and foreign investment, as clear and strong property rights enhance market appeal [8]. - Elevating macroeconomic governance effectiveness is necessary to ensure that market mechanisms function optimally while government plays a supportive role [9][10]. - Modernizing corporate governance structures is important for fostering a dynamic economic environment and addressing competitive challenges [12]. - Strengthening capital market functions is essential for supporting new productive forces and ensuring that financial services benefit the broader population [13].

Group 1 - The core viewpoint of the article emphasizes the significant achievements in high-quality development during the "14th Five-Year Plan" period and outlines the strategic goals for the upcoming "15th Five-Year Plan" [1][2][3] - The proposal highlights the need to enhance the foundation of the real economy by constructing a modern industrial system and maintaining a reasonable proportion of manufacturing [3][4] - The focus on accelerating high-level technological self-reliance and innovation is crucial for supporting new quality productivity and achieving modernization [6][7] Group 2 - The proposal aims to build a strong domestic market as a strategic foundation for modernization, emphasizing the interaction between consumption and investment [8][9] - It outlines measures to enhance fiscal sustainability, including improving fiscal management and optimizing the budget structure [10][11] - The initiative to accelerate the construction of a financial powerhouse includes enhancing the central bank's system and improving monetary policy transmission mechanisms [12][13] Group 3 - The proposal stresses the importance of a coordinated capital market that balances investment and financing, aiming to support the real economy and promote high-quality development [15][16][17]

Core Viewpoint - The Shandong Securities Regulatory Bureau is enhancing the cultivation function of the New Third Board market and promoting compliance awareness among companies to better prepare for the listing opportunities on the Beijing Stock Exchange. Group 1: Training and Compliance - A training session was held for over 240 participants, including chairpersons and senior management of innovative layer companies and newly listed companies, focusing on compliance and development [1] - The meeting emphasized the importance of improving corporate governance, enhancing information disclosure, and deepening core business capabilities to strengthen competitiveness [1] Group 2: Regulatory Guidance - The training included presentations from the Beijing Stock Exchange and related intermediaries on current listing conditions, the new Company Law, and strategic planning [1] - Common illegal activities among listed companies were reported by the Shandong Securities Regulatory Bureau to guide companies in maintaining compliance [1] Group 3: Ongoing Training Initiatives - Since the beginning of the year, the Shandong Securities Regulatory Bureau has conducted seven on-site training sessions for public companies, covering topics such as information disclosure, compliance, and risk prevention [2] - Future efforts will focus on risk prevention, regulatory enforcement, and promoting high-quality development among public companies in the region [2]