At the 2026 International Investors Conference of the Shanghai Stock Exchange held in Shanghai on November 12, Liu Haoling, Vice Chairman of the China Securities Regulatory Commission, said in his remarks that in recent years the comprehensive investment and financing reform of the capital market has continued to advance, with the STAR Market "1+6" reform, the "M&A Six Measures", the deepening reform of the ChiNext board, and refined refinancing policies rolled out one after another.
Liu Haoling pointed out that a series of institutional arrangements conducive to "long-term money for long-term investment" have been steadily implemented, the scale and proportion of medium and long-term funds such as social security funds, annuities, and insurance capital entering the market have risen steadily, and net purchases of A-shares since the start of the year have exceeded RMB 600 billion.
The operating performance of listed companies has continued to improve, and since the beginning of this year the scale of dividends and share buybacks by listed companies has exceeded the amount raised through IPOs and refinancing, with the investor return mechanism continuously being strengthened.
He stressed that, next, the China Securities Regulatory Commission will continue to deepen the comprehensive investment and financing reform of the capital market, strengthen financial support for scientific and technological innovation, and continuously improve the quality of listed companies and their long-term investment value.
It will also continue to intensify regulatory enforcement, effectively safeguard the lawful rights and interests of investors, steadily expand high-level opening-up, and improve the convenience of cross-border investment and financing.
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