Give wings to technological innovation

In today's world where globalization and informatization are intertwined, technological innovation has become the core driving force for promoting economic and social development. As an important platform for resource allocation, the reform and development of the capital market have immeasurable value in supporting technological innovation and promoting industrial upgrading. Recently, the Party Committee of the China Securities Regulatory Commission held an expanded meeting, once again closely linking capital market reform with technological innovation, providing broader development space and financing opportunities for technology innovation enterprises.

The meeting clearly pointed out the need to continue to strengthen support for technological innovation and the development of new quality productive forces. This is undoubtedly a profound understanding of the important role of technological innovation in economic growth under the current economic situation. Technological innovation is not only related to the improvement of national competitiveness, but also the key to achieving high-quality economic development. However, technological innovation often comes with high risks and high investment, especially for early-stage technology companies that often possess advanced technology and huge market potential. However, due to the lack of profitability, it is often difficult to obtain sufficient funding support through traditional financing channels. Therefore, the measures proposed by the China Securities Regulatory Commission at this meeting to enhance institutional inclusiveness, adaptability, and support the issuance and listing of high-quality unprofitable technology enterprises are undoubtedly precise measures to address this issue. These measures not only break the strict profitability requirements of traditional capital markets, but also provide valuable financing opportunities for technology companies with innovative capabilities and market prospects. This not only helps alleviate the financial pressure on technology companies, but also provides strong support for their rapid development and technological innovation.

From a more macro perspective, this reform measure has profound significance in promoting industrial upgrading and economic transformation. With the continuous development of technology, emerging industries are gradually becoming new engines of economic growth. The development of emerging industries often accompanies the impact and substitution of traditional industries. In this process, the support of the capital market is particularly important. By providing financing support for technology innovation enterprises, the capital market can guide more funds to flow into high-tech and high value-added industries, promote the transformation and upgrading of traditional industries, and enhance the competitiveness and sustainable development capabilities of the entire economic system. At the same time, this reform also helps to improve the overall quality and efficiency of the capital market. With more and more technology innovation companies entering the capital market, investment choices in the market will become more diversified, and investors' risk preferences will be better met. This will help enhance the liquidity and activity of the capital market, laying a solid foundation for its long-term development.

Of course, no reform can be achieved overnight. In the process of promoting capital market reform, we also face many challenges and problems. For example, how to ensure fairness, justice, and transparency in the capital market, how to prevent and mitigate market risks, and how to protect the legitimate rights and interests of investors. These issues require us to constantly explore and improve in the process of promoting reform.

In my opinion, the combination of capital market reform and technological innovation is not only a breakthrough in traditional financing models, but also an innovation in economic development models. Through this reform, we can better leverage the resource allocation role of the capital market and provide broader development space and financing opportunities for technological innovation. At the same time, this reform also helps to promote industrial upgrading and economic transformation, injecting new impetus into the sustained and healthy development of the economy.

In the future, there is reason to believe that with the continuous deepening of capital market reform and the continuous development of technological innovation, China's economy will usher in broader development prospects. We look forward to seeing more technology innovation companies emerge in the capital market and contribute to the prosperity of the Chinese economy. At the same time, we also look forward to the capital market better serving the real economy and providing more solid support for China's economic development.