Chinese officials on Thursday intensively voiced support for the development of new quality productive forces with the high-quality development of the capital market, especially after the top securities regulator vowed to give priority to the financing of companies that break foreign strangleholds in core technologies.
The capital market will play an increasingly important role in China's economy. Only by improving the mechanism of the capital market and enhancing its capability of serving the real economy can the capital market better support the development of new quality productive forces and contribute to a stable economic recovery, analysts said.
The China Securities Regulatory Commission (CSRC) will further carry out comprehensive reform and opening-up of the capital market, with efforts to improve mechanisms in areas including IPOs, merger and acquisition (M&A) deals, as well as private equity and venture capital funding to increase the institutional competitiveness of China's capital market, Zhou Xiaozhou, an official of the CSRC, said at a forum held in Beijing on Thursday, the Shanghai Securities Journal reported.
Zhou said that the authorities will implement 16 measures that the CSRC has announced to better serve sci-tech companies, and it will give priority to the financing of companies that break foreign strangleholds in core technologies.
