The China Securities Regulatory Commission (CSRC) Party Committee convened a meeting chaired by Chairman Wu Qing to study President Xi Jinping’s remarks at a symposium on private enterprises and to deploy implementation work across the CSRC system. The meeting framed capital markets as a key platform for the growth of the private economy and directed regulatory and market efforts toward stronger support for private companies. The CSRC highlighted that private enterprises account for nearly two-thirds of A-share listed companies, around 80% of companies on the STAR Market, ChiNext and the Beijing Stock Exchange, and around 90% on the National Equities Exchange and Quotations, with private firms also representing about 70% of refinancing and merger and restructuring transactions. Work priorities include expanding equity and bond financing support for private enterprises, driving implementation of measures such as the “STAR Market Eight Measures”, the “M&A Six Measures” and capital-market initiatives linked to the “five major articles” of finance, improving the multi-tier market system, and accelerating the development of “patient capital”. The agenda also covers coordination to address overdue payments owed to private listed companies, pairing real estate financing support with bond default risk control, orderly handling of delisting risks affecting private listed companies, enhancing market-based restructuring mechanisms with more representative cases, and deepening listed-company outreach alongside stricter standardisation of enterprise-related administrative inspections and stronger legal protection for private enterprises and entrepreneurs.

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