Shanghai Stock Exchange: Focus on Building a "Long-term Capital, Long-term Investment" Ecosystem to Strengthen the Market's Internal Resilience

On March 28, at the 2026 North Bund Wealth and Culture Forum, Qiu Yong, Secretary of the Party Committee and Chairman of the Shanghai Stock Exchange, stated that standing at the new starting point of the “14th Five-Year Plan,” the Shanghai Stock Exchange will always adhere to the development direction of market-oriented, rule of law, and internationalization, using comprehensive reforms in capital market investment and financing as a guide to promote more inclusive and adaptable systems, more efficient and high-performing listed companies, and a more stable and resilient market operation, as well as a deeper integration of finance and culture. Qiu Yong introduced the Shanghai Stock Exchange’s practices in deepening comprehensive reforms in capital market investment and financing, and cultivating a financial culture with Chinese characteristics in three aspects. First, vigorously leveraging the advantages of equity and debt financing to focus on serving the development of new productive forces. Second, focusing on building an ecosystem of “long money, long investment” to enhance the inherent resilience of the market. “Investment and financing are two sides of the same coin in the functions of the capital market,” said Qiu Yong. In recent years, the Shanghai Stock Exchange has insisted on coordinating efforts from both the investment and financing sides, striving to smooth the channels for medium and long-term funds to enter the market, enriching the supply of investment and financing, continuously improving asset quality and investor return levels, and accelerating the formation of a good ecosystem for “long money, long investment,” vigorously developing indexed investments, and actively attracting medium and long-term funds into the market. It was revealed that during the “14th Five-Year Plan” period, about 3,500 new indices were compiled, and the scale of ETF products increased from 0.9 trillion yuan to 4.2 trillion yuan. Third, making efforts to cultivate a financial culture with Chinese characteristics, focusing on solidifying the foundation for market development. (People’s Finance News)