Core Viewpoint - The "2025 International Training Program for Securities Exchanges" aims to explore new models for cross-border cooperation in capital markets, leveraging technology and capital to enhance innovation and support global economic development [1][2]. Group 1: Training Program Overview - The training program, lasting four days, is supported by the Shanghai and Shenzhen stock exchanges and the Shanghai Asset Management Association, and has successfully held five sessions since 2019 [3]. - Nearly 200 representatives from 31 exchanges and one regional exchange organization from various countries, including Algeria, Japan, and the UK, participated in the opening session [1][2]. Group 2: Themes and Focus Areas - The training will cover 11 key themes, including the transition from scale economy to innovation economy, how capital markets can support the development of technology enterprises, and the application of artificial intelligence in the Chinese securities industry [3][4]. - Participants will engage in practical visits to brokerage firms and technology companies to understand their roles in supporting innovation and capital market development [4]. Group 3: Institutional Support and Goals - The China Securities Regulatory Commission emphasizes the importance of international cooperation for the development of China's capital markets, aiming to create a more open and collaborative environment [2]. - The Shanghai Municipal Financial Office highlights the achievements of the Shanghai Stock Exchange in international business and its contributions to building an international financial center [2].