Wu Qing: Will set up a more precise and inclusive listing standard on the Growth Enterprise Market.

The Fourth Session of the Fourteenth National People's Congress was held this afternoon at 3pm in the Meiya Center Press Conference Hall, inviting Zheng Zhujie, Director of the National Development and Reform Commission, Minister of Finance Lan Fuan, Minister of Commerce Wang Wentao, Governor of the People's Bank of China Pan Gongsheng, and Chairman of the China Securities Regulatory Commission Wu Qing to answer questions from Chinese and foreign journalists on issues related to development and reform, fiscal budget, commerce, finance, and securities. The following is the main content of Wu Qing's responses to questions from journalists: Currently, the total market value of A shares exceeds 110 trillion yuan. Wu Qing said at the economic theme press conference of the Fourth Session of the Fourteenth National People's Congress that the total market value of A-shares currently exceeds 110 trillion yuan, with 5,400 listed companies' revenue exceeding half of the GDP, and strategic emerging industries accounting for 45% of the constituents of the Shanghai and Shenzhen 300 Index, continuously gathering momentum towards new and superior development. Improving the stable market mechanism with Chinese characteristics during the 14th Five-Year Plan period Wu Qing stated at the economic theme press conference of the Fourth Session of the Fourteenth National People's Congress that during the 14th Five-Year Plan period, efforts will be made to improve the stable market mechanism with Chinese characteristics, enriching the tools and mechanisms for cross-cycle counter-cyclical regulation, and enhancing the market's inherent stability. Further enhancing the investability on the basis of persistently ensuring the authenticity of listed companies Wu Qing stated that on the basis of persistently ensuring the authenticity of listed companies, further enhancements will be made in investability, improving incentive and constraint mechanisms, promoting the improvement of governance level of listed companies, strengthening dividend repurchase, continuously enhancing investment value and investor returns, activating the mergers and acquisitions market, promoting efficient resource allocation, and fostering more world-class enterprises. The role of the stock market as an indicator becomes more prominent Wu Qing stated at the economic theme press conference of the Fourth Session of the Fourteenth National People's Congress that overall, the scale, structure, and quality of the capital market are achieving a new leap, and market resilience and risk resistance are visibly enhanced. The role of the stock market as an indicator becomes more prominent and plays an increasingly important role in stabilizing employment, enterprises, markets, and expectations. Further improving the basic institutions of the capital market around comprehensive deepening of investment and financing reforms Wu Qing stated that efforts will be made around the comprehensive deepening of investment and financing reforms to further improve the basic institutions of the capital market, actively develop diversified equity financing, expand multiple exit channels for private equity and venture capital funds, and provide more precise and effective services to new productive forces, steadily develop futures and derivatives markets, better meet the risk management needs of enterprises and residents. Precision and effective crackdown on malicious illegal activities such as financial fraud, market manipulation, insider trading Wu Qing stated that a precision and effective crackdown on malicious illegal activities such as financial fraud, market manipulation, insider trading will be carried out, continuously improving the system for protecting the legitimate rights and interests of investors, effectively enhancing investor satisfaction. China's asset attractiveness has significantly increased Wu Qing stated that currently, the diversification of international investors' asset allocation needs is increasing, and China's asset attractiveness has significantly increased. The China Securities Regulatory Commission will focus on creating a first-class market-oriented, rule-of-law-based, and internationalized business environment, promoting further facilitation of cross-border investment and financing services, and further advancing market, product, service, and institutional two-way opening to a new level. Regulatory enforcement and investor protection are core functions that should not be weakened, only strengthened Wu Qing stated that stronger and more effective regulatory enforcement and investor protection are core functions of the China Securities Regulatory Commission, which should not be weakened but only strengthened. Adhering to the rule of law, the Commission will promote the improvement of the legal system of the capital market, advancing market reform and development on the track of the rule of law. Continuously enhance regulatory and risk prevention capabilities under open conditions Wu Qing stated at the economic theme press conference of the Fourth Session of the Fourteenth National People's Congress that the China Securities Regulatory Commission will focus on creating a first-class market-oriented, rule-of-law-based, and internationalized business environment, and improving the convenience of cross-border investment and financing services, further advancing market, product, service, and institutional two-way opening to a new level, creating a more transparent, stable, and predictable market environment. At the same time, engaging in international financial governance reform, strengthening cross-border regulatory enforcement cooperation, and continuously enhancing regulatory and risk prevention capabilities under open conditions. The narrative logic of the A-share market's technology becomes clearer and more concrete Wu Qing stated that in recent years, a group of innovative enterprises have efficiently completed IPOs and mergers and acquisitions, making the narrative logic of technology in the A-share market clearer and more concrete. This is the result of opportunities brought by high-quality economic development and the resilience of high-quality economic development. Will set up a more precise and inclusive listing standard for the ChiNext Wu Qing stated at the economic theme press conference of the Fourth Session of the Fourteenth National People's Congress that a more precise and inclusive listing standard will be set up for the ChiNext. Active support will be provided for high-quality innovative enterprises in new consumption sectors and modern service industries to issue IPOs on the ChiNext. This article is from "Tsuya News", GMTEight Editor: Liu Jiayin.