The China Securities Regulatory Commission published implementation opinions on how China’s capital markets will support the policy agenda of the financial “five major articles” covering science and technology finance, green finance, inclusive finance, pension finance and digital finance. The document sets out 18 policy measures aimed at strengthening capital markets’ role in serving the real economy, supporting “new quality productive forces”, and channelling resources toward strategic and priority areas including technological innovation, advanced manufacturing and green low-carbon development. The package emphasises deepening comprehensive reform of capital market investment and financing and enhancing the inclusiveness and adaptability of market institutions. Measures span improving full-chain, full-lifecycle financial services for technology firms, expanding product and institutional frameworks that facilitate the green and low-carbon transition, raising the effectiveness of capital markets in serving inclusive finance, better meeting diversified pension-finance needs, accelerating the digital and intelligent enablement of capital markets, and strengthening the capacity of industry institutions to deliver the “five major articles”, including improving coordination across the market. The CSRC indicated it will strengthen policy coordination, implementation and communications while balancing risk prevention, stronger supervision and high-quality development. A related Q&A with CSRC spokesperson Zhou Xiaozhou accompanied the release.

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