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中国人民大学国家金融研究院院长吴晓求:中国资本市场改革和发展有三重目标
吴晓求 ◎记者 汤立斌 锚定三重目标 深化资本市场改革 "'十五五'时期是我国基本实现社会主义现代化夯实基础、全面发力的关键时期,具有承前启后的重要 地位。"吴晓求表示,这一时期,在推动经济结构转型和产业升级迭代的过程中,要发挥金融特别是资 本市场的重要枢纽作用。 在他看来,资本市场未来改革要实现三方面的目标,分别是基础目标、核心目标和愿景目标。 一是基础目标,即排除资本市场中的"雷区"。吴晓求表示,资本市场改革的首要任务是让市场"没有 雷",即杜绝欺诈与造假行为。须对证券违法犯罪保持"零容忍"态度,通过严厉的刑事处罚,让违法 者"不敢想,不敢做"。同时,应建立有效的刑事处罚与民事赔偿机制,进一步净化资本市场生态。 二是核心目标,即加快资本市场成为中国经济增长和产业升级迭代的推动者,同时成为我国重要的社会 财富管理平台。资本市场应逐步成为居民财富配置的主要渠道。 当前,居民资产中房地产占比仍然较高,下一步要着重调整居民存量资产的结构,推动资本市场真正成 为承载居民财富、分享经济增长成果的核心平台。 三是愿景目标,即通过改革,将资本市场建设成为新的国际金融中心。资本市场高质量发展是实现金融 强国目标的重要载体。 ...
“两端”改革深化 资本市场向好态势得以巩固
Zheng Quan Ri Bao· 2025-07-27 15:50
Group 1 - The core focus of the recent China Securities Regulatory Commission (CSRC) meeting is to consolidate the market's recovery and positive trend, with an emphasis on reforming both the asset and funding sides of the capital market [1][2] - The asset-side reform aims to enhance the quality and investment value of listed companies, with a goal to cultivate high-quality, stable-return companies as a foundation for long-term market stability [1][2] - As of July 27, 57 companies have been listed on the A-share market this year, raising a total of 60.646 billion yuan, with 55 of these being strategic emerging industry enterprises [1] Group 2 - The funding-side reform focuses on nurturing long-term and patient capital, which is essential for the stable and healthy operation of the capital market [2][3] - Regulatory measures have been implemented to increase the inflow of long-term capital, including the expansion of investment by central financial institutions and the introduction of long-term assessment mechanisms for public funds and insurance companies [2][3] - The synergy between asset-side and funding-side reforms is crucial, as high-quality assets attract long-term capital, while stable and ample long-term funding supports the growth of quality enterprises [3]