According to the news released by the China Securities Regulatory Commission on February 24th, the journal "New Industrialization" published a signed article by Wu Qing, Chairman of the China Securities Regulatory Commission, titled "Fully Utilizing the Functions of the Capital Market to Better Serve New Industrialization". The article points out that the development of the capital market is closely related to and complementary to the promotion of new industrialization. Next, the China Securities Regulatory Commission will fully leverage market functions from five aspects, stimulate market vitality, further demonstrate the role of the capital market in promoting new industrialization, and help build a modern industrial system. The article points out that industry is the foundation of a country and a strong nation, the driving force of the national economy, and the mainstay of the real economy. New industrialization is the main battlefield for developing new quality productive forces. The China Securities Regulatory Commission has always attached great importance to the development of industrial and manufacturing enterprises, making them the top priority for serving the high-quality development of the real economy. Industrial and manufacturing enterprises constitute the main body of A-share listed companies The article mentions that by the end of 2024, among the more than 5000 listed companies on the Shanghai, Shenzhen, and North stock exchanges, industrial and manufacturing enterprises accounted for 76.5% of the total number of listed companies, 56.58% of the market value, and 32.32% of the profits. These high-quality enterprises have become the "foundation" for the high-quality development of the capital market, and the capital market is closely linked and complementary to the new industrialization. The article mentions that since 2024, in the process of implementing the new "National Nine Articles" and forming a "1+N" policy system for the capital market, the China Securities Regulatory Commission has regarded serving the innovation driven development strategy and promoting the development of new quality productivity as important tasks. The China Securities Regulatory Commission has deployed from the following aspects: improving the policy system of the capital market to support the development of new quality productive forces; Improve and optimize the system and mechanism for enterprise listing, financing, and mergers and acquisitions; Fully leverage the support role of private equity venture capital funds for strategic emerging industries and science and technology innovation enterprises; Fully leverage the support role of the bond market for new industrialization; Overseas listing services effectively enhance the financing efficiency of various new technology, new industry, and new format enterprises; Actively leveraging the support role of the futures market for new industrialization; Actively guide securities and fund companies to support technological innovation, etc. The article points out that in the next step, the CSRC will firmly focus on the general goal of accelerating the construction of a safe, standardized, transparent, dynamic and resilient capital market, do a solid job in the "five major articles" of finance, give full play to market functions, stimulate market vitality, further reflect the role of the capital market in promoting new industrialization, help build a modern industrial system, and contribute more to comprehensively promoting the construction of a strong country, national rejuvenation, and achieving Chinese path to modernization. One is to further enhance the service coverage and accuracy of multi-level capital markets. Conduct in-depth research on the characteristics, development laws, and needs of relevant enterprises in investment and financing, incentive constraints, corporate governance, etc., and enrich the tools, products, and services of the capital market in a targeted manner. Establish a sound multi-level capital market system and leverage the synergistic effect of the stock and bond futures markets. Priority should be given to supporting technology-based enterprises to carry out key core technology research and development through stock and bond financing, mergers and acquisitions, and restructuring, in order to enhance the quality and efficiency of service and productivity development. The second is to continuously improve the capital market system and enhance its inclusiveness and adaptability to new quality productivity. Continuously promote the implementation and implementation of the "Sixteen Articles on Science and Technology Innovation" and the "Eight Articles on the Science and Technology Innovation Board", further deepen the reform and opening up of the capital market, conduct in-depth research and improvement of institutional arrangements such as issuance and listing, private equity and venture capital, enhance the competitiveness of the capital market system, improve the inclusiveness and adaptability of new industries, new business forms and new technologies, better serve scientific and technological innovation, green development and the transformation and upgrading of traditional industries, and continuously optimize the structure of listed companies. The third is to support listed companies in transforming and upgrading through mergers and acquisitions. We will focus on the implementation of the "Six Measures for Mergers and Acquisitions", and quickly launch a number of typical cases in promoting industrial integration, optimizing resource allocation, and better serving the development of new quality productivity. This will better leverage the role of the capital market as the main channel in mergers and acquisitions, and serve the transformation and upgrading of listed companies. The fourth is to promote the entry of long-term funds into the market and strengthen patient capital. Focusing on the goals of "more long money, longer long money, and better returns", we will continue to actively create conditions to attract more medium - and long-term funds into the capital market, promote the formation of a "long money, long investment" institutional environment, steadily increase the scale and proportion of medium - and long-term capital investment in A-shares, and improve the supply and structure of capital market funds. At the same time, we will optimize support policies for the entire chain of venture capital and private equity investment through "fundraising, investment management, and withdrawal", guide better investment in early, small, and hard technology, and promote a virtuous cycle of "technology industry finance". The fifth is to continuously improve the ecology of the capital market. Implementing supervision requires strict and sharp requirements, punishing various illegal and irregular behaviors such as financial fraud, fraudulent issuance, market manipulation, and illegal reduction of holdings, effectively safeguarding the "three publics" of the market, and promoting a strong foundation. At the same time, we encourage the practice of the Chinese characteristic financial culture of "five musts and five don'ts", urge listed companies, industry institutions, etc. to abide by the law, maintain integrity, and contractual spirit, fulfill their fiduciary obligations and entrusted responsibilities, cultivate the equity culture of "respecting investors and rewarding investors", and create a favorable "soft environment" for the stable and healthy development of the capital market. (New Society)