liveroulettewheel| Beijing Stock Exchange: Empowering new productivity focuses on three aspects

Our reporter Wu Xiaolu Meng Ke

May twenty _ thirdLiveroulettewheelSui Qiang, general manager of the Beijing Stock Exchange, said at a series of financial street forum activities in 2024-- "Capital Market empowering New quality Productivity". The Beijing Stock Exchange is a major strategic deployment made by the CPC Central Committee based on building a new development pattern and promoting high-quality development, and has the conditions and foundation for the development of new-quality productive forces.

Sui Qiang said that as an important capital market platform to serve innovative small and medium-sized enterprises, the Beijing Stock Exchange will focus on three aspects in terms of enabling new quality productivity: first, to accurately grasp the "new" and "quality" of new quality productivity. In practice, the new quality productivity is mainly embodied in the ability to produce new scientific and technological achievements, form new production relations and lead the new economic format, with the characteristics of strong strategic leadership, high growth, significant competitive advantage and so on.

The second is to fully understand the representative industries of new quality productive forces. The development of new quality productive forces does not mean simply withdrawing or abandoning traditional industries as "low-end industries". While cultivating and strengthening emerging industries and ahead of the layout of future industries, we should also promote the upgrading and transformation of traditional industries and better promote the application of scientific and technological innovation achievements to specific industries and industrial chains.

The third is to find the combination of new productivity and capital market. Innovative enterprises have the characteristics of large R & D investment, high risk and strong dependence on talents. the capital market, especially the stock exchange, can solve the problems of capital supply, price discovery and talent incentive mechanism. it plays an irreplaceable role in guiding all kinds of resource elements to gather to scientific and technological innovation and smooth the virtuous circle of science and technology, industry and capital.

As for the next step of work, Sui Qiang said that under the unified leadership and deployment of the CSRC, the Beijing Stock Exchange will jointly promote strong supervision, risk prevention, and promote high-quality development. We will speed up the implementation of the measures of "16 articles on Capital Market Services for Technology Enterprises" and "19 articles on Deep Reform" of the Beijing Stock Exchange, so as to promote the Beijing Stock Exchange to play a greater role in enabling new quality productivity.

First of all, optimize the basic system to improve the inclusive adaptability to the new quality productivity. In order to better meet the needs of the development of new quality productive forces, the Beijing Stock Exchange will study and formulate innovative evaluation criteria, further optimize the basic institutional arrangements such as issuance and listing, mergers and acquisitions, and equity incentives, and enhance the inclusiveness and adaptability of the system.

Secondly, we should strive to enhance the vitality and resilience of the market and enhance the attractiveness and service power of high-quality enterprises. The Beijing Stock Exchange will actively introduce high-quality investment targets such as new quality productivity enterprises, strengthen the construction of the investment side, actively cultivate patient capital, launch ETF products, and continue to promote the expansion of market makers. At the same time, great efforts should be made to solve the key problems such as the mismatch between the income and cost of intermediary institutions, the insufficient supply of research institutions, and the insufficient participation of investment institutions.

Finally, we should improve the policy system and form a joint force to support the development of new quality productive forces. Continue to strengthen policy coordination, landing with the Ministry of Industry and Information Technology specialized new enterprise training system comprehensive docking, accurate docking national specialized new "Little Giant" and other high-quality enterprises listing demand. We will guide all parties to implement the concept of inclusive finance, promote the integration of science and technology policy, industrial policy and financial policy, build a set of more effective incentive and restraint arrangements, and improve the policy system of "early investment and small investment in science and technology" and supporting the development of new quality productive forces.

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