Recently, many regions have introduced plans to promote high-quality development of the private economy. The Implementation Plan for Further Promoting High Quality Development of Private Economy in Shaanxi Province proposes to support private enterprises in obtaining direct financing through issuing stocks and bonds, and optimize the selection mechanism for reserve listed enterprises. The "Several Provisions on Promoting the Development of Private Economy in Hainan Free Trade Port" has recently been implemented. In terms of optimizing the investment and financing environment, it strengthens the support for the development factors of private economy, including measures such as strengthening the supply of land factors and enhancing financial support. Liu Xiangdong, Chief Analyst of Dongyuan Investment, stated in an interview with reporters that many regions are currently issuing intensive support plans for the development of private enterprises, sending a strong signal of continuously optimizing the business environment and stimulating market vitality. Firstly, the policy orientation is more clear, forming a support system that promotes and implements precise policies from the central to local levels; Secondly, the measures are becoming more systematic, covering multiple dimensions such as financing, access, innovation, and the rule of law, reflecting the intention of comprehensive protection; The third is to highlight the effectiveness and operability, emphasizing that policies are "perceptible and accessible" and funds are "directly accessible", focusing on solving the pain points and blockages reflected in the long-term private economy, which helps to stabilize expectations and enhance confidence. Tian Lihui, a finance professor at Nankai University, told reporters that from the perspective of policies in various regions, there are three major trends in the design of policies to support the development of private enterprises: first, from "universal casting of nets" to "precise drip irrigation", second, from administrative intervention to institutional innovation, and third, from short-term relief to ecological construction. These policies are essentially a reconstruction of the "policy market enterprise" triangle relationship, laying the institutional foundation for the high-quality development of the private economy. It can be seen that through systematic and institutionalized reforms, the core of policies is to activate the vitality of micro entities through market-oriented means. In fact, the capital market is an important platform for promoting the development and growth of the private economy, and private enterprises are also important participants and components of the capital market. According to Wind Information data, as of August 25th, there have been 66 new listed companies in the A-share market this year, of which 57 are private enterprises, accounting for 86.36%; Private enterprises issued 567 bonds in the exchange bond market, with a total issuance amount of 203.871 billion yuan. The latest data from the stock and bond markets shows that multi-level capital markets are increasingly supporting the development and growth of the private economy. Liu Xiangdong stated that the current capital market's support for private enterprises has significantly increased, and the mechanism continues to be improved. On the one hand, financing channels are constantly expanding, IPO、 Multi level market tools such as bond issuance work together to accurately serve the needs of private enterprises at different stages of development; On the other hand, there is a clear policy tilt, which enhances the accessibility of financing for private enterprises through the establishment of special financing tools, optimization of listing processes, and encouragement of mergers and acquisitions; In addition, the risk sharing mechanism is gradually improving, and supporting policies such as guarantees, insurance, and interest subsidies are implemented in coordination, effectively reducing the financing costs and credit risks of private enterprises and supporting their steady development. In the first half of 2025, many regions will promote private enterprises to expand their direct financing scale through IPO and bond financing. Although the current capital market has significantly increased its support for private enterprises, structural weaknesses still exist. ”Tian Lihui admitted that the problem lies in the obvious regional differentiation, with the eastern capital market being much more active than the central and western regions; Secondly, there is insufficient innovation in tools; The third is the accumulation of risks, with some private enterprises overly relying on the combination of "interest subsidies+guarantees". The capital market needs to shift from "quantitative expansion" to "qualitative improvement" and solve structural contradictions through institutional innovation. Tian Lihui suggested that further efforts should be made to support the development of private enterprises. Firstly, deepening multi-level market reforms, establishing a "hard technology growth index", and promoting the construction of regional equity markets and the transition from the New Third Board to the New Third Board; Secondly, we will strengthen policy coordination, pilot the "filing system+credit rating" regulatory sandbox, and establish a cross-border regulatory warning platform; The third is technological empowerment, developing a composite toolkit of "industrial merger and acquisition funds+REITs+convertible bonds", and building a "digital twin" regulatory system. (New Society)