五是稳步扩大资本市场高水平制度型开放。文章指出，开放包容是高质量资本市场的重要特征。要坚持 以我为主、循序渐进，推动在岸与离岸市场协同发展，促进资本高效流动、要素合理配置和制度互学共 鉴，提高我国资本市场国际竞争力。支持企业用好国内国际两个市场、两种资源。完善合格境外投资者 制度，稳慎拓展互联互通，进一步提升外资和外资机构参与我国资本市场的便利度。加快建设世界一流 交易所，培育一流投资银行和投资机构。加快推进上海国际金融中心建设和巩固提升香港国际金融中心 地位。 六是共同营造规范、包容、有活力的资本市场生态。文章强调，加强资本市场法治建设，推动修订证券 法、证券投资基金法，制定修订上市公司监督管理条例、证券公司监督管理条例等行政法规，积极创造 公开公平公正的市场环境。推动健全特别代表人诉讼等投资者保护机制，强化投资者教育宣传，倡导理 性投资、价值投资、长期投资。加强资本市场高端智库平台和人才队伍建设，强化对资本市场战略性基 础性前瞻性问题的研究。健全预期管理机制，加强宣传引导，推动全社会形成鼓励创新、包容失败的良 好舆论氛围。 （上接1版）运用好大数据、人工智能等现代信息技术手段，高效识别违法违规线索和风险隐 ...

Group 1 - The Beijing Financial Street Service Bureau has proposed measures to enhance the capital market ecosystem and promote high-quality development of listed companies, particularly supporting the Beijing Stock Exchange (BSE) in improving its internationalization level and allowing eligible BSE-listed companies to list on the Hong Kong Stock Exchange (HKEX) [1][2] - The measures aim to strengthen the BSE's role in serving innovative small and medium-sized enterprises (SMEs) and enhance the effectiveness of inclusive finance [1][2] - The proposal includes establishing regular communication mechanisms with foreign exchanges and encouraging international financial institutions to participate in the development of the BSE [1][2] Group 2 - The measures will enrich the product system of the BSE, including support for the development of a government bond market, credit bond market, and research on publicly issued convertible bonds [2][3] - The expansion of index-based investments, including exchange-traded funds (ETFs), publicly offered real estate investment trusts (REITs), and asset securitization products, is expected to attract more long-term capital and enhance market activity [2][3] - The proposal also emphasizes supporting listed companies in increasing their technological innovation, with funding support based on R&D intensity, providing up to 2 million yuan in special funds per year for qualifying companies [3] Group 3 - The BSE primarily serves innovative SMEs, with over 90% of its listed companies being high-tech enterprises and nearly 80% from strategic emerging industries and advanced manufacturing [4] - More than half of the listed companies on the BSE are recognized as national-level specialized and innovative "little giant" enterprises [4]

Core Viewpoint - The Beijing Financial Street Service Bureau has proposed measures to enhance the capital market ecosystem and promote high-quality development of listed companies, focusing on supporting the Beijing Stock Exchange (BSE) and addressing the financing challenges faced by small and medium-sized enterprises (SMEs) [1][7]. Group 1: Support for the Beijing Stock Exchange - The proposed measures include supporting the BSE in developing a diverse product system, such as public convertible bonds and various investment funds [2]. - There is an emphasis on enhancing the legal framework and international cooperation for the BSE, including establishing communication platforms with foreign exchanges [2]. - The measures aim to create a favorable market environment for the BSE to explore innovations in issuance, trading mechanisms, and risk control [2]. Group 2: Professional Service Ecosystem - The proposal emphasizes the creation of a diverse professional service institution system to support companies in their listing processes, including services from securities firms, public funds, and private equity [3]. - Financial support will be provided to qualifying institutions to enhance their capabilities in serving technology-driven enterprises [3]. Group 3: Financial Institutions and Investment Ecology - Financial institutions are encouraged to develop differentiated financial products to meet market demands and expand investment channels [4]. - The measures promote the active participation of asset management institutions and qualified foreign institutional investors in the BSE [4]. Group 4: Comprehensive Support for Enterprises - The proposal outlines a full-chain service approach for enterprises seeking to go public, including support for intellectual property protection and financing connections [5][6]. - There is a focus on nurturing innovative enterprises that align with national strategic development goals, creating a resource pool for potential listings [6]. Group 5: Encouragement of Technological Innovation - The measures include financial incentives for listed companies to increase their investment in technology innovation and upgrades, with specific funding caps based on R&D intensity [7]. - Support will also be provided for talent acquisition and retention to foster a conducive environment for innovation within listed companies [7].

Group 1 - The Beijing Financial Street Service Bureau is proposing measures to support companies listed on the Beijing Stock Exchange (BSE) to enhance their international presence and facilitate listings on the Hong Kong Stock Exchange (HKEX) [1] - The measures include establishing a regular communication platform through the Financial Street Forum and related activities to strengthen cooperation between the BSE and foreign exchanges [1] - The initiative aims to attract international financial institutions to participate in the development of the BSE, thereby increasing its global influence [1]

Group 1 - The article emphasizes the support for the Beijing Stock Exchange (BSE) to enhance its product system and ensure high-quality development [1] - The Beijing Financial Street Service Bureau plans to introduce publicly issued convertible bonds as part of its initiatives [1] - There is a focus on expanding the index system of the BSE and promoting various investment products such as ETFs, LOFs, REITs, and asset securitization [1]