2025-03-11

On March 5, the government work report submitted to the Third Session of the 14th National People's Congress for deliberation included "stabilizing the property market and stock market" in the overall requirements of economic and social development, and proposed "deepening the comprehensive reform of investment and financing in the capital market, vigorously promoting the entry of medium and long-term funds into the market, and strengthening the reserve of strategic forces and the construction of the market stabilization mechanism". On March 6, Wu Qing, Chairman of the China Securities Regulatory Commission, attended the press conference on the economic theme of the third session of the 14th National People's Congress, stressing that he would continue to promote the implementation of the new "nine national rules" and "1+N" policy system, and accelerate the new round of capital market reform and opening up by taking deepening the comprehensive reform of investment and financing in the capital market as a guide. Anchored by stability and promoted by reform, the direction of capital market reform and development is clear, and all parties in the market actively respond. "Shenzhen Stock Exchange will implement it to the letter," Changsha Yan, deputy to the National People's Congress and director of Shenzhen Stock Exchange, told Shanghai Securities News. Several representatives and members of listed companies have stated that they will continue to enhance product competitiveness through technological innovation, improve the intrinsic value of the company, and effectively enhance investors' sense of gain. Vigorously promoting the entry of medium and long-term funds into the market, Sha Yan stated that the government work report's series of deployment requirements for the reform and development of the capital market are in line with the spirit of the Third Plenary Session of the 20th Central Committee of the Communist Party of China and the Central Economic Work Conference, fully reflecting the high attention of the Party Central Committee and the State Council to the capital market, and pointing out the direction for further deepening the comprehensive reform of the capital market and promoting high-quality development of the capital market. Medium - and long-term funds are the "stabilizer" and "ballast" for the healthy operation of the capital market. As for how to implement "vigorously promote medium - and long-term capital entering the market", Sha Yan said that Shenzhen Stock Exchange will vigorously develop index investment, increase ETF product innovation and supply, and constantly introduce fresh water; Actively promote the regular investment model and help enhance investors' sense of gain. We will continue to promote the improvement of the quality of listed companies, encourage more listed companies to participate in the 'dual improvement of quality and return' action, deepen the implementation of the 'six articles on mergers and acquisitions', promote the improvement of corporate governance, enhance the awareness and ability of listed companies to return to investors, and focus on building a high-quality group of listed companies Sha Yan said. Investors are the foundation of the market, and listed companies are the basis of the market. At present, more than 400 companies in the Shenzhen Stock Exchange have submitted special action plans for "dual improvement of quality and return", and Sha Yan encourages all listed companies to actively participate in the special action. This has received a positive response from the representative committee of the listed company. In fact, the NPC deputy and Chairman of Dongfang Wealth said that since the company's listing, it has always attached great importance to investor returns and insisted on carrying out cash dividends every year. The next step will focus on "focusing on the development of the main business, enhancing the company's competitiveness", "leveraging R&D advantages, enhancing the company's product strength", "exploring return mechanisms, and improving shareholder satisfaction", and solidly carry out the "dual improvement of quality and return" work. With the help of the capital market, the company has successfully developed from a factory in Zhengzhou to the largest frozen food production enterprise in the country, driving the growth of more than 7800 small and medium-sized enterprises through upstream and downstream industries, leading Zhengzhou to become the production base of frozen food in the country. In the future, we will continue to enhance product competitiveness through technological innovation, effectively increase investors' sense of gain, and make more outstanding contributions to industry development and socio-economic development Chen Nan, deputy to the National People's Congress and chairman of Sanquan Food, said. We will always uphold the concept of long termism and promote the long-term healthy and sustainable development of the company. While ensuring the continuous improvement of the company's intrinsic value, we strive to safeguard the rights and interests of investors through various means, give back to the vast number of investors, and effectively achieve the 'dual improvement of quality and return', contributing to enhancing market confidence and promoting the positive and healthy development of the capital market Jia Shaoqian, deputy to the National People's Congress and chairman of Hisense Group, said. The government work report on the comprehensive development of new quality productivity proposes to develop new quality productivity according to local conditions and accelerate the construction of a modern industrial system. Promote the integration of technological innovation and industrial innovation, vigorously promote new industrialization, expand and strengthen advanced manufacturing industries, actively develop modern service industries, and promote the accumulation and upgrading of new driving forces and traditional driving forces. Sha Yan believes that a distinctive feature of this year's government work report is to accelerate the deployment and development of new quality productive forces, promote the integration of scientific and technological innovation and industrial innovation, and inject strong momentum into high-quality development. The development of new quality productivity in service is not only an unshirkable responsibility of the capital market, but also an opportunity for the high-quality development of the capital market itself. Since last year, the central government has implemented a package of incremental policies to promote economic recovery and improvement. The new "National Nine Measures" and "1+N" series of policy documents have systematically reshaped the basic system and regulatory logic of the capital market, coupled with the multiple outbreaks of scientific and technological innovation in China, laying a solid foundation for the stable and healthy development of the capital market. Overall, China's capital market system, structure, and institutional mechanisms are constantly improving, and development momentum is accumulating. The foundation and conditions for high-quality services and new productivity are becoming more solid Sha Yan said. Next, how to further deepen reforms comprehensively and enhance the ability of the capital market to serve the development of new quality productivity has become the focus of market attention. Sha Yan stated that the Shenzhen Stock Exchange will take deepening the reform of the ChiNext board as the driving force, optimize the issuance and listing, mergers and acquisitions, and market pricing mechanisms, implement the "green channel" mechanism for technology-based high-quality innovative enterprises, make good use of the second and third sets of standards of the ChiNext board, and promote the aggregation of market resources to new industries, new formats, and new technology fields; Give full play to the role of the full cycle and relay market service system, coordinate the efforts of stocks and bonds, solidly carry out the "five major articles" of finance, and comprehensively serve the development of new quality productivity. Sha Yan stated that the Shenzhen Stock Exchange will exercise strict supervision, play a good role in front-line supervision, further optimize the monitoring mechanism for abnormal trading, focus on improving the efficiency of technology supervision, coordinate the implementation of comprehensive punishment and prevention mechanisms to prevent financial fraud, and effectively punish violations in accordance with regulations, in order to shape a good market ecology through strict supervision and management. In addition, the Shenzhen Stock Exchange will adhere to promoting reform and development through opening up, implement the five capital market cooperation measures with Hong Kong issued by the China Securities Regulatory Commission, continuously optimize the Shenzhen Hong Kong Stock Connect mechanism, and steadily expand cooperation with overseas markets. (New Society)

Edit:Yao jue    Responsible editor:Xie Tunan

Source:Shanghai Securities News

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