Theme: 2024 Financial Street Forum Series Activities-"Capital Markets Empowering New Quality Productivity"

On May 23, at the 2024 Financial Street Forum series activities-the theme exchange activity of "Capital Market Empowering New Quality Productivity", Zhou Xiaozhou, director of the Comprehensive Department of the China Securities Regulatory Commission, said that the China Securities Regulatory Commission will promptly promote the "1+N" policy system in the capital market. The implementation of the system focuses on serving the development of new quality productivity, further improving the basic system of the capital market, further exerting the functions of the capital market, solidly doing a good job in the "five major articles" of finance, and promoting science and technology, High-level circulation of industry and capital will better serve the overall situation of high-quality development.

Zhou Xiaozhou pointed out that the China Securities Regulatory Commission resolutely implements the decisions and arrangements of the Party Central Committee and the State Council, insists on serving the high-quality development of the real economy as its fundamental purpose, actively plays the role of the capital market in serving high-level scientific and technological self-reliance and self-reliance, and guides factor resources to accelerate their transformation into scientific and technological innovation and other new areas of quality productivity. Formulate and implement a package of policies and measures to serve high-level scientific and technological self-reliance in the capital market. Implement the new "National Nine Articles" task deployment and introduce supporting measuresplayonlinerouletterealmoneyThe "Sixteen Measures for the Capital Market to Serve the High-level Development of Technology Enterprises" was published and proposed a package of policy measures from listing financing, mergers and acquisitions, bond issuance, private equity investment, etc. Adhere to the "hard technology" positioning of the Science and Technology Innovation Board, revise and improve the evaluation guidelines for science and technology innovation attributes, and further increase the R & D investment and invention patent requirements of science and technology innovation enterprises.

At the same time, we actively support the listing and financing of technology-based companies. Technology-based companies have become the main force of newly listed companies. The market value of strategic emerging industries has increased significantly, and currently exceeds 40%. The mechanism role of the capital market in serving scientific and technological innovation is increasingly exerted. A number of scientific and technological innovation companies in the fields of new generation information technology, biomedicine, and high-end equipment manufacturing have broken through key core technologies after listing and achieved leapfrog development. Promote technology companies to efficiently integrate resources. Enrich restructuring payment and financing tools, introduce targeted convertible bond restructuring rules, appropriately improve the inclusiveness of the restructuring and valuation of asset-light technology-based enterprises, and improve the "small-amount rapid" review mechanism for restructuring. Strengthen the support of private equity venture capital, corporate bonds, etc. for technological innovation. Since the reform of the registration system, nearly 90% of companies listed on the Science and Technology Innovation Board and 60% of companies listed on the GEM have received private equity support.