Social Security Fund Association Jin Luo: The mechanism for transferring fund shares should be further improved.

Jin Yao, Vice Chairman of the National Social Security Fund Council, stated on March 27 at the Boao Forum for Asia Annual Conference 2026 sub-forum "Creating a Good Market Environment and Advocating Long-term Value Investment" that in order to better stimulate market vitality, the shortcomings in the exit process of long-term assets should be addressed. It is hoped that relevant departments will further improve the multi-level capital market system, providing innovative small and medium-sized enterprises with smoother exit channels beyond IPO. From an international perspective, mergers and acquisitions are equally important as IPOs and are indispensable exit channels. In addition, the mechanism for transferring fund shares should be further improved.