On June 10th, the Shenwan Hongyuan Group Co., Ltd. 2026 Capital Market Summer Strategy Conference was held in Shenzhen. Zhou Haichen, a member of the Party Committee and Deputy General Manager of Shenwan Hongyuan Group Co., Ltd. Securities, as well as Secretary of the Party Committee and Chairman of the Research Institute, attended the event and delivered a keynote address, offering a profound analysis of China's economic development trends and capital market opportunities within the context of global transformation.
Zhou Haichen stated that in recent years, the nation has elevated the development of the capital market to an unprecedented level of importance, jointly promoting the reshaping of the market ecosystem from the perspectives of financing, investment, listed companies, and regulation.
Regarding the financing side, Zhou Haichen noted that reforms for the STAR Market and the ChiNext board have been successively implemented, with listing rules continuously optimized. Innovative mechanisms such as shelf offerings for refinancing and market makers for the ChiNext board are being accelerated, enhancing the capital market's capacity to serve new quality productive forces. Over the past three years, the STAR Market and ChiNext board have cumulatively facilitated the listings of over 230 science and technology innovation enterprises. The capital market is increasingly becoming a vital platform for promoting technological industrialization, factor capitalization, and enterprise modernization.
On the investment front, Zhou Haichen cited data indicating that the entry of medium- to long-term funds into the market has achieved breakthrough progress. In 2025, combined net purchases of A-shares by social security funds, insurance funds, pension funds, public funds, and securities firms' proprietary trading exceeded 800 billion yuan. The market value of A-shares held by foreign capital surpassed 4 trillion yuan, signaling the formation of a market ecosystem characterized by long-term capital and long-term investment.
In conclusion, Zhou Haichen mentioned that the new round of capital market reforms places greater emphasis on robust regulation, risk prevention, and the promotion of high-quality development. By smoothing market entry and exit channels and enhancing the quality of information disclosure, these reforms aim to enable investors to better share in the fruits of high-quality economic development.