In my country's capital market, these profound structural changes have taken place

Since the 18th National Congress of the Communist Party of China, the Party Central Committee with Comrade Xi Jinping's core has attached great importance to the capital market work, strengthened the centralized and unified leadership of the capital market, made a series of major decision -making arrangements, clearly proposed to deepen reforms, build a standardized, transparent, and transparent, transparent, and transparent, transparent, and transparent, and Open, dynamic and tough capital market. Especially since the 2017 National Financial Work Conference, under the strong leadership of the Party Central Committee with Comrade Xi Jinping as the core, my country closely follows the main line of structural reforms of financial supply -side structural reforms, and insists on using reform ideas and methods to solve the capital market system mechanism obstacles , Firmly promote the comprehensive deepening of the reform of the capital market, promote deep structural changes in the capital market, and serve the economic development and achieve quantitative quality.

Steady growth of stock debt financing

From 2017 to 2021, the total public offering of stocks (IPOs) and re -financing for the first time was 5.2 trillion yuan, and the exchange bond market issued 3.3.9 trillion yuan.

In 2021, the total amount of IPOs and refinancing was about 1.5 trillion yuan. The total financing of stocks and exchange bond markets exceeded 10 trillion yuan, which hit a record high.

The market structure is obviously optimized

As of the end of June 2022, there were more than 2,200 listed companies in strategic emerging industries in A -shares. The market value of new generation of information technology, biomedicine and other high -tech industries increased from about 20%in early 2017 to about 37%. More than half of the R & D expenditure across the country, the role of listed companies as the "basic market" of the real economy and the transformation and development of "leaders" is even more prominent.

The structure of investors has gradually improved, and the proportion of domestic professional institutional investors and foreign capital holdings increased from 15.8%in early 2017 to 23.5%.

Multi -level market system is continuously improved

The successful implementation of the pilot registration system of science and technology boards and GEM has greatly enhanced the attractiveness of the capital market to high -quality enterprises.

Deepen the reform of the New Third Board, the establishment of the Beijing Stock Exchange, and build a key step in the main position of the main position of SMEs to serve innovative SMEs.

The "Futures and Derivation Laws of the People's Republic of China" was reviewed and approved, which effectively filled the "basic law" gap in the field of futures and derivatives.

As of the end of June 2022, there were 94 futures options, which basically covered the main fields of national and people's livelihood. In the context of the sharp rise in international commodities since 2021, the prices and increases of major futures varieties such as power coal and iron ore in my country are less than less than less than less In stock, less than abroad, it contributes positive power to the overall situation of stable and prices.

Optimize the function of resource allocation to further play

The adaptability and inclusiveness of the basic system of the capital market has been significantly improved, and the market -oriented incentive restraint mechanism has been continuously improved.

The role of the main channel of the capital market M & A reorganization has been strengthened. In the past 5 years, the amount of mergers and acquisitions and reorganization transactions is about 10 trillion yuan, which has stimulated the vitality of the market subject.

The delisting system has been further improved. This year, 42 companies have forced delisting, and the market ecology of orderly and retreating and survival of the fittest is accelerating.

High -level institutional type openness and steadily advance

Coordinate openness and security, and promote the openness of markets, products and institutions.

Foreign -funded stocks in the securities fund futures industry have been fully liberalized.

The interconnection is continuously deepened, the Shanghai -Shenzhen -Hong Kong -Hong Kong -connected institutional arrangement has continued to optimize, and the transaction -type open -end fund (ETF) has been included in the implementation of the Shanghai -Shenzhen -Hong Kong Standard.

A shares are incorporated into the internationally renowned index and continuously increased the proportion and launched the A -share index futures in Hong Kong.

Foreign capital has maintained net inflows for many years, and the international attraction and competitiveness of my country's capital market have increased significantly.

For details: The Secretary of the Party Committee and Chairman of the China Securities Regulatory Commission Yihui Manchu "Efforts to build a modern capital market with Chinese characteristics"

Source: Seeking.com

Planning: Li Haihua

Production: Li Haihua

Review: Wu Qiang

Produced: Wang Zhaobin

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