Li Chao, vice chairman of the China Securities Regulatory Commission, said at a press conference on the theme of “Starting the 15th Five-Year Plan” series held by the State Information Office, that investment and financing are two basic functions of the capital market. The two complement and promote each other, continuously promoting the high-quality development of the capital market. In recent years, the Securities Regulatory Commission has fully implemented the various tasks set out in the new “National Nine Rules”, using the “Two Innovation Board” reforms as a breakthrough to further enhance the inclusiveness and adaptability of the system, vigorously promote the entry of medium- and long-term capital into the market, and continue to deepen comprehensive capital market investment and financing reforms. The capital market is undergoing increasingly profound structural changes, the coordinated development trend of investment and financing is taking shape at an accelerated pace, and the quality and efficiency of services to the real economy is constantly improving. Li Chao also said that the Securities Regulatory Commission will make greater efforts to stimulate market vitality. Supporting the development and growth of high-quality enterprises with new productivity is the mission of the capital market in the new journey. In recent years, the Securities Regulatory Commission has introduced and deepened reforms such as the Science and Technology Innovation Board and the GEM to further enhance the flexibility and convenience of refinancing, and the results of the reforms have gradually become apparent. Since this year, the average review cycle for IPOs in the Shanghai and Shenzhen markets has been shortened to more than 6 months, and some high-quality companies have refinancing reviews of less than 1 month. In the next step, the Securities Regulatory Commission will implement more inclusive systems such as issuance and listing, mergers, acquisitions, and restructuring, and strive to make the A-share market the preferred place for high-quality domestic companies to go public. Dynamically improve the listing standards system and expand the coverage to the new and improved in an orderly manner. Expedite the revision of system rules such as refinancing registration methods. Promote the high-quality development of the Beijing Stock Exchange and the New Third Board integration. Further unblock the “fundraising and management withdrawal” cycle of private equity venture capital funds, and guide early investment, small investment, long-term investment, and hard technology investment.

Li Chao, vice chairman of the China Securities Regulatory Commission, said at a press conference on the theme of “Starting the 15th Five-Year Plan” series held by the State Information Office, that investment and financing are two basic functions of the capital market. The two complement and promote each other to continuously promote the high-quality development of the capital market. In recent years, the Securities Regulatory Commission has fully implemented the various tasks set out in the new “National Nine Rules”, using the “Two Innovation Board” reforms as a breakthrough to further enhance the inclusiveness and adaptability of the system, vigorously promote the entry of medium- and long-term capital into the market, and continue to deepen comprehensive capital market investment and financing reforms. The capital market is undergoing increasingly profound structural changes, the coordinated development trend of investment and financing is taking shape at an accelerated pace, and the quality and efficiency of services to the real economy is constantly improving. Li Chao also said that the Securities Regulatory Commission will make greater efforts to stimulate market vitality. Supporting the development and growth of high-quality enterprises with new productivity is the mission of the capital market in the new journey. In recent years, the Securities Regulatory Commission has introduced and deepened reforms such as the Science and Technology Innovation Board and the GEM to further enhance the flexibility and convenience of refinancing, and the results of the reforms have gradually become apparent. Since this year, the average review cycle for IPOs in the Shanghai and Shenzhen markets has been shortened to more than 6 months, and some high-quality companies have refinancing reviews of less than 1 month. In the next step, the Securities Regulatory Commission will implement more inclusive systems such as issuance and listing, mergers, acquisitions, and restructuring, and strive to make the A-share market the preferred place for high-quality domestic companies to go public. Dynamically improve the listing standards system and expand the coverage to the new and improved in an orderly manner. Expedite the revision of system rules such as refinancing registration methods. Promote the high-quality development of the Beijing Stock Exchange and the New Third Board integration. Further unblock the “fundraising and management withdrawal” cycle of private equity venture capital funds, and guide early investment, small investment, long-term investment, and hard technology investment.