Recently, from supporting technology-based enterprises and small and medium-sized enterprises to go public for financing, to improving the quality and investment value of listed companies, to supporting listed companies to use tools such as mergers and acquisitions to become better and stronger... many places have made efforts to support the development of the capital market. Tian Lihui, Dean of the Institute of Financial Development at Nankai University, stated in an interview with reporters that the capital market is a "barometer" and "booster" for regional economic development. Local governments attach great importance to the capital market, aiming to inject strong impetus into regional economic development through its financing and investment functions. Active capital markets can not only drive industrial upgrading and promote employment growth, but also enhance the overall competitiveness of regional economies. Improving the capital market system, enhancing the efficiency and fairness of the capital market, has become an inevitable choice for local governments to promote high-quality economic development. Currently, local governments are actively taking measures to increase support for technology-based enterprises to go public for financing. Zhang Jun, Chief Economist of China Galaxy Securities, stated in an interview with reporters that the capital market is crucial for local governments. Firstly, provide direct financing channels for enterprises, promote the expansion of production scale, upgrade technology, and expand business, and drive the coordinated development of related industrial chains. Secondly, the good performance of enterprises in the capital market will lead to an increase in taxes such as corporate income tax and value-added tax, directly enriching local finances. Thirdly, local governments can guide capital market funds towards key support areas such as environmental protection, new energy, and technological innovation by encouraging companies that comply with industrial policies to go public and issue bonds. Specifically, on January 15th, the People's Government of Guizhou Province issued the "Implementation Plan for Promoting High Quality Development of the Capital Market in Guizhou Province" (hereinafter referred to as the "Guizhou Plan"), which proposed several measures around vigorously promoting the cultivation of enterprise listing and striving to improve the quality of listed companies. On January 21st, the Guangdong Provincial People's Government officially released the "Several Measures for High Quality Development of Capital Markets to Support Guangdong's Modernization Construction" (hereinafter referred to as the "Guangdong Plan"), which also emphasizes the support for technology-based and key sector enterprises to go public for development. On February 8th, the Financial Office of the Beijing Municipal Party Committee held a financing docking meeting for small and medium-sized enterprises, proposing to continuously promote financial innovation and introduce a series of work measures in the capital market and listing services, inclusive financial services, technology financial services, etc., encouraging financial institutions to develop financial products suitable for small and medium-sized enterprises and alleviate financing difficulties. On February 14th, Zhou Xiaoquan, Executive Deputy Director of the Financial Office of the Shanghai Municipal Committee, stated at the press conference on the "Ten Major Events in the Construction of Shanghai International Financial Center in 2024" that he supports enterprises to use multi-level capital markets to grow and strengthen. Zhang Jun believes that increasing support for technology-based enterprises by local governments is in line with the requirements of the Central Economic Work Conference. Technology oriented enterprises often have the characteristics of large investment scale, long investment cycle, and high investment risk. Supporting IPO financing and encouraging venture capital fund investment can provide sufficient funds for enterprise development. Supporting enterprises to go public has become an important path for local governments to promote local economic development Tian Lihui stated that local governments supporting technology-based enterprises to go public for financing is a practical implementation of the innovation driven development strategy, which helps technology-based enterprises grow rapidly and form new economic growth points. Improving the quality of listed companies is particularly important for local governments in terms of mergers and acquisitions, as well as enhancing the investment value of listed companies. Among them, "mergers and acquisitions" and "investment value" have become high-frequency words. The Financial Office of the Shanghai Municipal Party Committee stated that it will work with relevant departments to carry out a series of activities related to mergers and acquisitions, improving the quality of listed companies, etc; The Guangdong plan clearly states that it supports technology-based enterprises to efficiently implement mergers and acquisitions; The Guizhou plan states that it supports high-quality listed companies in refinancing and guides them to focus on their main business for mergers and acquisitions. In Zhang Jun's view, the policy guidance focus of this round of mergers and acquisitions includes: supporting the vertical merger and integration of new quality productivity enterprises, especially the integration of technology innovation enterprises in the upstream and downstream of the industrial chain; Support horizontal mergers and acquisitions of traditional industries and leading enterprises, optimize resource allocation, improve industry concentration, enhance market competitiveness and sustainable development capabilities. Wu Dan, a researcher at the Bank of China Research Institute, told reporters that some listed companies with declining profits and chaotic governance need to be eliminated and optimized through mergers and acquisitions, releasing capital, land and other resources, and promoting the overall transformation of the industry from quantity to quality. In addition, local governments actively guide listed companies to enhance their investment value. For example, the Guizhou plan proposes to support listed companies in establishing a long-term mechanism to enhance their investment value, incorporating market value management into the performance evaluation system of state-owned enterprises, guiding listed companies to repurchase shares and cancel them, encouraging controlling shareholders, senior management personnel, and others to increase their holdings of stocks, urging the formulation of positive and stable dividend policies, increasing dividend intensity, and promoting multiple dividends, pre dividends, and pre Spring Festival dividends within a year. Listed companies are the cornerstone of the capital market, and their quality directly affects the healthy development of the capital market. Local governments attach great importance to improving the quality of listed companies, aiming to enhance the overall level and attractiveness of the capital market, and create more value for investors Tian Lihui stated that these measures not only help promote local economic development, but also contribute to improving the capital market system, enhancing the efficiency and fairness of the capital market. In the future, the active actions of local governments in the capital market will continue to provide strong support for high-quality economic development. (New Society)