Shang Fulin, director of the Economic Committee of China People's Political Consultative Conference, former chairman of China Securities Regulatory Commission and former chairman of China Banking Regulatory Commission, said in his keynote speech that the Fifth Plenary Session of the 19th CPC Central Committee, on the basis of a profound analysis of profound and complicated changes at home and abroad, proposed to accelerate the construction of a new development pattern with domestic macro-cycle as the main body and domestic and international dual-cycle promoting each other, which also put forward higher requirements for the development of the capital market.
Shang Fulin pointed out that at such a historical juncture, the capital market should further play the pivotal role of the modern economic and financial system, and support the construction of a new development pattern with the domestic big cycle as the main body and the domestic and international double cycles promoting each other. He put forward five suggestions: first, we should give full play to the capital formation function of the capital market; The second is to give full play to the value discovery function of the capital market; Third, give full play to the resource allocation function of the capital market; Fourth, give full play to the wealth effect of the capital market; Fifth, give full play to the attraction of further opening up the capital market.
Zheng, president and editor-in-chief of Economic Daily, said in his speech that during the Tenth Five-Year Plan period, from the overall situation of the country, it is necessary to establish a high-level socialist market economic system through comprehensively deepening reforms. The capital market system should be more mature and stereotyped, so as to better play its pivotal role as a financial market and factor market. Now, it seems that we should further improve the long-term mechanism to improve the quality of market players, especially listed companies, improve the institutional arrangements to promote securities funds and futures operating institutions to be better and stronger, greatly improve the level of medium and long-term capital access systems, and establish a scientific, temperature-sensitive and efficient supervision system.
Chen, president of Securities Daily, said at the meeting that Securities Daily was only a drop of dew in this great era, but it also reflected the glory of the times and witnessed the exploration, reform, innovation and vicissitudes of the capital market. As a member of the capital market, we have always cherished the wish of sharing the same breath and destiny with the capital market, transmitting information, connecting up and down, discovering value, sharing experience and growing together with the market.
Song Zhiping, President of China Association of Listed Companies and President of China Enterprise Reform and Development Research Association, gave a wonderful speech on how to further improve the quality of listing. He pointed out that improving the quality of listed companies is the requirement of economic development in the new period. Capital market plays an important role in financial operation. We should deepen reform and create a standardized, transparent, open, dynamic and flexible capital market. Improving the quality of listed companies is also a requirement of the capital market. The capital market has a history of 30 years, and the group of listed companies is becoming more and more mature, so they should demand themselves according to high standards. Improving the quality of listed companies is also their own requirements, and listed companies should constantly improve and improve their overall quality.
Zhang, Secretary of the Party Committee and President of China Securities and Finance Research Institute, delivered a keynote speech entitled "Deepening the reform of capital market and helping the high-level circulation of science and technology, capital and real economy". He said that at present and in the future, China has entered a new development stage of building a socialist modern country in an all-round way and moving towards the goal of the second century. In accordance with the overall goal of "building a standardized, transparent, open, dynamic and resilient capital market", efforts will be made to increase the proportion of direct financing, give more prominence to supporting scientific and technological innovation, speed up the improvement of institutional and institutional arrangements for promoting the formation of capital in the capital market, smooth the docking channels between scientific and technological innovation and the capital market, and help key core technologies to fight hard.
At the same time, in the morning forum, Li Yongchun, member of the Party Committee and deputy general manager of the National Stock Transfer Company, Liu Lei, deputy general manager of the CSI Small and Medium Investor Service Center, Liu Shangxi, Party Secretary and President of the China Academy of Fiscal Science, He Qiang, professor, doctoral supervisor and director of the Securities and Futures Institute of the Central University of Finance and Economics, President of Tengtai Wanbo New Economic Research Institute and Li Daxiao, chief economist of Ying Da Securities, and other well-known experts and scholars focused on "continuously promoting the reform and innovation of the New Third Board, Keynote speeches were delivered on topics such as helping to increase the proportion of direct financing for small and medium-sized enterprises, the significance of consolidating insurance to promote the high-quality development of the capital market, the changes brought about by digitalization and financialization, and the new demand created by China's economy.
In the afternoon, two special sub-forums were held: "Chief Economist Sub-forum" and "Leaders of Listed Companies Sub-forum". This paper mainly discusses the development of the capital market from the following aspects: building a virtuous circle ecological chain of the capital market, looking forward to the development of the capital market in the 14 th Five-Year Plan, increasing the proportion of direct financing, improving the financial ecology, and how listed companies should cope with the pressure of economic downturn and structural adjustment.
Seven chief economists, represented by Kang Jia, chief economist of Huaxia New Institute of Supply Economics, agreed that there is still great uncertainty in the global economy in both short-term and long-term. Compared with the global uncertainty, the certainty of China's economy is very obvious. The global economy will be in the stage of full recovery next year, but China will be one of the countries with the fastest growth rate, and the economic growth next year is expected to reach around 9%. 10 entrepreneurs, represented by Gao Yang, chairman of Berry Gene, said that to improve the quality of listed companies, we should further improve the level of corporate governance and enterprise management, concentrate on the main business, improve the company's performance and value, and increase the return to investors.
In addition, the afternoon meeting also held the accession ceremony of the third batch of members of the "Science and Technology Leaders Alliance". Up to now, the alliance of leading enterprises in science and technology has11alliance members, accounting for more than half of the 202 listed science and technology innovation board enterprises, and more and more outstanding science and technology enterprises have gathered. By deepening exchanges and cooperation, alliance members can enjoy high-quality resources and run out of the "acceleration" of scientific and technological innovation.
(Editor Dong Tian Shangguan Menglu)