CSRC latest statement! Promote further increase in the proportion of medium and long-term funds entering the market.

On January 11th, Chen Huaping, Vice Chairman of the China Securities Regulatory Commission, stated at the 30th China Capital Market Forum that they will continue to improve the institutional environment for long-term investment, and work together to further increase the proportion of various types of medium and long-term funds entering the market. They will further enhance the effectiveness of supervision and law enforcement, continuously improve investor education services and protection systems, adhere to strict supervision in accordance with the law, highlight cracking down on major, malicious, and key cases, and strictly punish all kinds of malicious illegal activities. Pushing various types of medium and long-term funds to further increase their market participation ratio Chen Huaping stated that they will continue to improve the institutional environment for long-term investment, and work together to further increase the proportion of various types of medium and long-term funds entering the market, optimize arrangements for qualified foreign investors, and make various types of funds willing to come, stay, and develop well. By the end of last year, various types of medium and long-term funds collectively held approximately 23 trillion yuan of A-share market value, an increase of 36% compared to the beginning of the year; the scale of equity funds increased from around 8.4 trillion yuan at the beginning of last year to around 11 trillion yuan. Strictly cracking down on all kinds of malicious illegal activities to enhance investor trust and confidence Chen Huaping pointed out that they will further enhance the effectiveness of regulatory law enforcement, continuously improve investor education services and protection systems, adhere to strict supervision in accordance with the law, highlight cracking down on major, malicious, and key cases, strictly punish all kinds of malicious illegal activities, promote more cases of special representative litigation with initial compensation, and enhance investor trust and confidence. Without financing function, there is no talk of serving the real economy in the capital market Chen Huaping pointed out that to promote the coordination of investment and financing functions, it is necessary to deeply study its rich connotation and operation mechanism. Investment and financing are the two basic functions of the capital market. They are complementary to each other, and without the financing function, there is no talk of serving the real economy in the capital market, and without the investment function, the sustainable development of the market will become a castle in the sky. In terms of total volume, the imbalance between investment and financing will increase market volatility and magnify market vulnerability. In terms of structure, investment and financing need to be better matched in terms of product term, risk characteristics, and preferences. It should also be noted that the coordination of investment and financing is not a static balance at a certain point in time, but a dynamic and constantly adjusted process. Promoting the coordination of investment and financing functions must focus on the quality of listed companies Chen Huaping pointed out that to promote the coordination of investment and financing functions, it is essential to firmly focus on improving the quality of listed companies. Listed companies with sound market fund governance and high returns or strong growth potential are the lifeblood of the capital market, naturally attracting more funds for long-term stable investment, thereby forming a virtuous cycle of high-quality listed companies, profitable investments, active market participation, and improved financing efficiency. On the contrary, if the quality of listed companies is not up to standard, even if the stock price is temporarily inflated, it is not sustainable, ultimately leading to a loss of investor confidence and the inability of the financing function to function properly. The China Securities Regulatory Commission will continuously enhance the precision and effectiveness of services for technology innovation enterprises Chen Huaping pointed out that they will continuously enhance the precision and effectiveness of services for technology innovation enterprises, deepen the reforms of the Sci-Tech Innovation Board and the Growth Enterprise Market, deepen refinancing reforms, accelerate the improvement of the multi-tiered capital market system, promote the optimization of private equity and venture capital, and enhance the full life cycle service capacity for technology innovation enterprises. This article is reprinted from "Cailianshe"; Edited by GMTEight: Huang Xiaodong.