Liu Haoling, vice chairman of the China Securities Regulatory Commission, delivered a speech at the 2026 Shanghai Stock Exchange International Investors Conference. Liu Haoling said that the value of industrial innovation is being activated at an accelerated pace, and investment opportunities for the future are constantly emerging. The “15th Five-Year Plan” clearly proposes to accelerate self-reliance and self-improvement in high-level science and technology, and lead the development of new quality productivity. Since this year, the pace of industrial upgrading in China has continued to accelerate, and new momentum such as high-end manufacturing, digital intelligence, and modern service industries have continued to develop and expand, contributing more than 40% to economic growth. The capital market continues to increase its support for science and technology innovation enterprises, continuously optimize listing standards and listing processes, and enhance the inclusiveness and adaptability of the system. Take the Science and Technology Innovation Board of the Stock Exchange as an example. Currently, there are more than 600 companies on the Science and Technology Innovation Board. The total R&D investment in the first three quarters of this year reached 147.1 billion yuan, an increase of 26% over the previous year. A large number of enterprises in the fields of artificial intelligence, semiconductors, high-end manufacturing, and innovative pharmaceuticals have developed and grown into leading enterprises with global competitiveness, driving collaborative upgrading of upstream and downstream industrial chains, and bringing rare investment opportunities to global investors. In the next step, the China Securities Regulatory Commission will fully implement the “15th Five-Year Plan” plan and deployment, always adhere to the general tone of stability and progress, and promote risk prevention, strong supervision, and high-quality development in an integrated manner. Continue to deepen comprehensive capital market investment and financing reforms, strengthen financial support for technological innovation, and continuously improve the quality and long-term investment value of listed companies. Continue to strengthen supervision and enforcement to effectively protect the legitimate rights and interests of investors. Continue to expand a high level of openness to the outside world, improve the convenience of cross-border investment and financing, and support Shanghai to accelerate the construction of an international financial center.

Liu Haoling, vice chairman of the China Securities Regulatory Commission, delivered a speech at the 2026 Shanghai Stock Exchange International Investors Conference. Liu Haoling said that the value of industrial innovation is being activated at an accelerated pace, and investment opportunities for the future are constantly emerging. The “15th Five-Year Plan” clearly proposes to accelerate self-reliance and self-improvement in high-level science and technology, and lead the development of new quality productivity. Since this year, the pace of industrial upgrading in China has continued to accelerate, and new momentum such as high-end manufacturing, digital intelligence, and modern service industries have continued to develop and expand, contributing more than 40% to economic growth. The capital market continues to increase its support for science and technology innovation enterprises, continuously optimize listing standards and listing processes, and enhance the inclusiveness and adaptability of the system. Take the Science and Technology Innovation Board of the Stock Exchange as an example. Currently, there are more than 600 companies on the Science and Technology Innovation Board. The total R&D investment in the first three quarters of this year reached 147.1 billion yuan, an increase of 26% over the previous year. A large number of enterprises in the fields of artificial intelligence, semiconductors, high-end manufacturing, and innovative pharmaceuticals have developed and grown into leading enterprises with global competitiveness, driving collaborative upgrading of upstream and downstream industrial chains, and bringing rare investment opportunities to global investors. In the next step, the China Securities Regulatory Commission will fully implement the “15th Five-Year Plan” plan and deployment, always adhere to the general tone of stability and progress, and promote risk prevention, strong supervision, and high-quality development in an integrated manner. Continue to deepen comprehensive capital market investment and financing reforms, strengthen financial support for technological innovation, and continuously improve the quality and long-term investment value of listed companies. Continue to strengthen supervision and enforcement to effectively protect the legitimate rights and interests of investors. Continue to expand a high level of openness to the outside world, improve the convenience of cross-border investment and financing, and support Shanghai to accelerate the construction of an international financial center.