Recently, Shaanxi, Guangdong, Yunnan, Guangxi and other regions have introduced intensive measures to guide and support enterprises to better utilize multi-level capital markets and enhance the quality and efficiency of financial empowerment of the real economy. In the opinion of the interviewed experts, the intensive introduction of local policies to support enterprise listing and financing can help accelerate the transformation of innovative achievements and industrial upgrading, promote more high-quality enterprises to go public, enhance the vitality of the capital market, and promote high-quality development of the capital market. On November 27th, Shaanxi Province issued the "Several Measures on Deepening Capital Market Reform to Support Shaanxi's High Quality Development" (hereinafter referred to as the "Several Measures"), proposing 16 measures including strengthening the joint cultivation of reserve listed enterprises, supporting technology-based enterprises to go public for financing, and improving the service support mechanism for listed companies. On November 25th, the Guangdong Provincial Local Financial Management Bureau and other departments issued the "Guangdong Provincial Financial Support for Enterprises to Carry out Industrial Chain Integration and Merger Action Plan", proposing to expand direct financing channels in the capital market. Encourage various regions to improve the comprehensive service platform for enterprise listing, establish a gradient cultivation mechanism, support technology-based enterprises that break through key core technologies to list on the Growth Enterprise Market, Science and Technology Innovation Board, etc., support other eligible enterprises to actively list and raise funds, support Guangdong Hong Kong Macao Greater Bay Area enterprises listed on the Shenzhen Stock Exchange, and broaden their financing channels. The Special Action Plan for Financial Support to Private Enterprises in Yunnan Province, released by the General Office of the People's Government of Yunnan Province in October, proposes to strengthen training, cultivation, and guidance for private enterprises to go public, support eligible private enterprises to go public both domestically and internationally, and support private listed companies to utilize the capital market for high-quality development. Song Xiangqing, Vice President of the China Society of Business Economics, stated in an interview with reporters that for enterprises, measures such as improving the listing gradient cultivation mechanism and strengthening listing guidance can guide enterprises to regulate governance and prepare for listing. At the same time, stable policy support can also guide venture capital and other capital to focus on start-ups, especially making it easier for start-up technology companies to gain capital favor, injecting momentum into their technology research and market expansion. According to Wind Information data, as of November 27th, a total of 98 companies went public this year, raising over 100 billion yuan in funds. From a regional distribution perspective, Jiangsu, Guangdong, and Zhejiang have a relatively large number of initial public offerings, with 25, 23, and 21 companies respectively. In addition, various regions also provide support for corporate refinancing, mergers and acquisitions, and restructuring. For example, the Office of the Financial Committee of the Guangxi Zhuang Autonomous Region Committee of the Communist Party of China and other departments issued the "Implementation Rules for Guangxi Financial Preferential Enterprise Direct Financing Incentive Policy" on November 21, which proposes to support the refinancing of listed companies. Guangxi listed companies conduct refinancing through equity financing methods such as issuing shares and rights issues, and provide support at a rate of 0.5% of their financing amount. The maximum support amount for a single enterprise within the year shall not exceed 2 million yuan. Providing financial subsidies for enterprise refinancing reduces the direct financing costs of enterprises and effectively alleviates their financial pressure. ”Song Xiangqing stated that in terms of the capital market, relevant policies can help activate market trading and innovation vitality. The increase in activities such as enterprise listing and refinancing will drive market business activity. Cross market listing of enterprises can also promote the linkage between the A-share market and the H-share market, and enhance the overall liquidity and resource allocation efficiency of the capital market. Precise support for key areas not only supports the development and growth of enterprises through the capital market, but also guides financial activities through precise "drip irrigation" to support key areas such as technological innovation. The "Several Measures" clearly focus on key areas such as new generation information technology, artificial intelligence, aerospace, new energy, new materials, high-end equipment, biomedicine, quantum technology, etc., and provide hierarchical and classified tracking and guidance to guide enterprises to go public in appropriate sectors. Tian Lihui, a finance professor at Nankai University, told reporters that the introduction of relevant policies is like a "timely rain" for technology-based and innovative enterprises, which can significantly reduce their financing costs and broaden their financing channels. To boost and expand consumption, the consumer industry has also become an important direction for guiding financial support in various regions. The People's Bank of China Beijing Branch and 12 other departments recently jointly issued the "Implementation Plan for Financial Support to Boost and Expand Consumption in Beijing", proposing to support high-quality enterprises in the consumer industry chain such as production, channels, and terminals that meet the conditions to raise funds through issuance and listing, and listing on the "New Third Board". In Song Xiangqing's view, the centralized listing of various high-quality enterprises such as technology-based and industry chain leaders can not only improve the overall quality of listed companies, but also enable the capital market to better serve the real economy. Regarding how to further enhance and optimize the financing environment for enterprises in the future, Tian Lihui suggests that while improving the multi-level capital market system and supporting more high-quality enterprises to go public, policy coordination should also be strengthened to form a "government guided, market led" financing environment. This will assist in the high-quality development of enterprises, promote the stable and far-reaching development of the capital market, achieve a win-win situation between enterprises and the capital market, and inject strong impetus into the development of new quality productivity. (New Society)