The two sessions of the local governments have been held successively to focus on the three key points of capital market work


On the morning of January 15, the first session of the 16th Beijing Municipal People's Congress was opened. Yin Yong, acting mayor of Beijing, made a report on the work of the government. The report states that "support the expansion of the transaction scale of the Beijing Stock Exchange". Recently, the local two sessions in 2023 have been held successively. According to the reporter, the work reports of many local governments involve capital market planning, including supporting the reform and development of local securities or futures exchanges; Set the target number of new listed enterprises and increase the financing strength; Promote REITs pilot and other hot spots. "The multi-level capital market is an important starting point for the development of local economy." Tian Lihui, vice president of Guangxi University and president of the Institute of Financial Development of Nankai University, told the Securities Daily that actively guiding the listing and development of local enterprises is conducive to promoting local economic growth and the development of financial markets, and to further attracting capital and optimizing the allocation of resources. Supporting local exchanges to reform and develop the capital market is the hub of resource allocation, while stock exchanges and futures exchanges are important platforms for investment, financing and resource allocation, which have a significant impact on the local economy. Over the years, the local two sessions and the local exchange will focus on supporting the reform and development of the local stock and futures exchanges in the government work report. For example, the work report of Guangdong Provincial Government proposed to develop multi-level capital market, support Shenzhen Stock Exchange to promote the reform of the whole-market registration system, accelerate the development of Guangzhou Futures Exchange, and enhance the efficiency of financial services to the real economy. The work report of Zhengzhou Municipal Government proposes to support the restructuring of the advantages of Zhengzhou Commodity Exchange, expand the scale of "futures+spot", and build a globally influential futures pricing center, futures price hedging center and futures institution gathering center. The work report of the Dalian Municipal Government proposes to support the Institute of Commerce to accelerate the development of listed renewable steel raw materials, container capacity, hydrogen energy and other futures products, promote the construction of "one circle and two centers" in the OTC market, and strive to achieve an annual turnover of more than 60 billion yuan in the OTC market. "The stock exchange and futures exchange are the gathering place of capital, as well as the asset pricing and enterprise development platform, which can bring many benefits to the location in terms of tax, talent introduction and training. Based on the relevant national strategies and local development needs, the local government needs to further support the development of the stock exchange and futures exchange." Tian Lihui said. Song Xiangqing, vice president of the Institute of Government Management of Beijing Normal University and director of the Industrial Economy Research Center, told reporters that the development of stock exchanges and futures exchanges has received strong support from local governments, which is conducive to better matching local high-quality resources, serving the real economy to expand capacity and increase efficiency, and promoting the efficient connection between the capital market and market entities. This will further enhance the inclusiveness of the capital market in serving the real economy and the adaptability of resource allocation, thus further stimulate the enthusiasm of the securities and futures exchanges in serving the local economy, and achieve a win-win situation for the government, exchanges and enterprises. The target number of new listed companies is often the "business card" of local governments and the "source" of local economic vitality. The reporter noted that many local governments set the target number of new listed companies in 2023 in the government work report. As proposed in the work report of the Shandong Provincial Government, we will strive to add about 30 new listed companies. According to the work report of Hunan Provincial Government, 200000 new enterprises were added

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