On January 15th, the People's Government of Guizhou Province issued the "Implementation Plan for Promoting High Quality Development of the Capital Market in Guizhou Province", proposing several measures to vigorously promote the cultivation of enterprise listing, focus on improving the quality of listed companies, develop private equity funds with high quality, and vigorously develop the futures market, in order to expand and strengthen the Guizhou sector of the capital market. Since the State Council issued the "Several Opinions on Strengthening Supervision, Preventing Risks, and Promoting High quality Development of the Capital Market" (hereinafter referred to as the "New" National Nine Articles ") in 2024, various regions have actively responded and successively introduced relevant policies, committed to creating market blocks with local characteristics and contributing to the high-quality development of the capital market. With the new "National Nine Point Plan" outlining a blueprint for the development of the capital market in the next five years, 2035, and the middle of this century, various regions across the country have responded quickly and actively implemented relevant policy measures. Combined with their own development reality and industrial characteristics, they have successively introduced a series of targeted and wide-ranging policies. According to the reporter's review, as of now, Guizhou, Hunan, Sichuan, Shanghai, Tianjin and other places have issued relevant action plans. In terms of goal setting, various regions hope to promote high-quality economic development in the entire region by vigorously supporting the development of the capital market. Efforts are being made in various regions to strengthen the cultivation of reserve enterprises for listing, while also paying close attention to the market value management of existing listed companies. It is worth mentioning that various regions have emphasized mergers and acquisitions as an important way to support the high-quality development of listed companies in their plans. Song Xiangqing, Vice President of the Chinese Society of Business Economics, told reporters that from the policies that have been introduced so far, the core goals of various regions are to promote the high-quality development of the capital market, enhance the quality and market competitiveness of listed companies, and promote the transformation, upgrading, and development of the economy; Various regions generally emphasize strengthening supervision, preventing risks, ensuring the stable operation of the capital market, and protecting the legitimate rights and interests of investors; In addition, they all focus on leveraging the role of the capital market in serving the real economy, promoting a positive interaction between the economy and finance through supporting corporate financing and promoting industrial upgrading. In terms of specific methods, each region has its own emphasis. For example, around the goal of improving the quality of listed companies, Sichuan proposes to effectively play the supervisory role of independent directors; Guizhou proposes to conduct regular visits to listed companies and establish a mechanism for tracking and resolving issues and difficulties faced by listed companies; Tianjin proposes to increase the protection of the legitimate rights and interests of investors, promote listed companies to take practical measures to repay investors, and further improve the stability, timeliness, and predictability of dividends. This differentiated layout reflects the principle of local governments adapting to local conditions, taking into account the actual situation of local economic and social development, and fully combining their own resource advantages and development positioning Tian Lihui, Dean of the Institute of Financial Development at Nankai University, told reporters. In recent years, the important role of the capital market in promoting regional economic development has become increasingly prominent. Taking the ChiNext board as an example, since its establishment, it has always closely focused on the national regional development strategy layout and actively served the construction of the "dual zones" (Guangdong Hong Kong Macao Greater Bay Area and Shenzhen Pilot Demonstration Zone). At the same time, the ChiNext board also pays high attention to the economic construction needs of the western region, vigorously supports enterprises in the western region to achieve rapid growth through the capital market, and provides strong support for industrial upgrading in the western region. According to Wind Information data, as of now, there are 296 ChiNext companies located in the Guangdong Hong Kong Macao Greater Bay Area, accounting for 21.64% of the total number of ChiNext companies, including 121 newly listed companies under the registration system. There are 161 ChiNext companies located in Shenzhen, accounting for 11.77%, including 67 newly listed companies under the registration system. In addition, there are a total of 104 ChiNext listed companies in the northwest and southwest regions, including 41 newly listed companies under the registration system. Song Xiangqing told reporters that due to the unique advantages of the capital market in price discovery, resource allocation, and innovative capital formation, local policies supporting the development of the capital market can better serve the real economy, promote technological innovation and industrial upgrading, promote the development of new quality productivity, and provide strong support for high-quality economic development. Tian Lihui suggested that all regions should attach importance to attracting and retaining high-end financial talents, build a sound education and training network, and provide intellectual support for the sustained and healthy development of the capital market; Actively exploring the coordinated development model of upstream and downstream enterprises in the industrial chain, allocating financial resources to key areas and technological nodes through the establishment of industrial investment funds and other forms, and assisting the development of the real economy; Further expand the direct financing channels for enterprises, especially the equity financing channels for small and medium-sized enterprises, reduce the dependence on indirect financing, and alleviate the problem of financing difficulties. (New Society)