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<Research>CICC Envisions Implementation of Mid-to-Long Term Capital Mkt Entry System to Impact Mkt Ecology, Real Economy Development
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Yesterday (22nd), the Central Financial Office, China Securities Regulatory Commission, Ministry of Finance, Ministry of Human Resources and Social Security, People's Bank of China, and the National Financial Regulatory Administration jointly issued the "Implementation Plan for Promoting Entry of Medium- and Long-term Capital into Market", according to a report from CICC. The plan focuses on guiding commercial insurance funds, national social security funds, basic pension insurance funds, enterprise (occupational) annuity funds, and public funds in stepping up their market entry efforts. In the long run, medium- and long-term capital is expected to affect the performance of the capital market, market ecology, and the development of the real economy. In the broker's opinion, the implementation of the medium- and long-term capital market entry system could clear the bottlenecks for such capital dabbling in the market and further facilitate their entry. With advantages including stability, professionalism, and sustainability, medium- and long-term capital will contribute to the stable operation of the capital market, market pricing efficiency, financial product innovation, and formation of a healthy and positive capital market ecology. From the perspective of supporting real economic development, long-term capital may push forward technological innovation and the governance capabilities of real enterprises. Such capital typically does not face immense short-term redemption pressures, while having long-term attributes and investment patience that could make it more capable and willing to invest in long-cycle, short-term uncertain return innovative activities. This is beneficial for further fortifying innovative enterprises and aiding in the transformation and high-quality development of China's economic structure. AAStocks Financial News |
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