Shanghai Securities News Front Page: The "14th Five-Year Plan" Outline Includes "Patient Capital" for the First Time; Multiple Measures to Optimize the Investment Ecosystem

The Shanghai Securities News’ front-page article notes that the “15th Five-Year” planning outline has, for the first time, written in “patient capital,” and that it has included capital market work in sections such as “increasing the property-based income of urban and rural residents” and “boosting consumption.” Unlike the “14th Five-Year” plan, which focuses on the financing function, the “15th Five-Year” planning outline proposes to “improve the capital market’s functions in which investment and financing are coordinated.” In the view of industry insiders, during the “15th Five-Year” period, China’s capital market is entering a new stage of coordinated development of its investment and financing functions. Through measures such as systematically drawing long-term funds into the market, strengthening investor protection, and enriching product supply, the capital market ecosystem is expected to continue to improve, investors’ confidence to keep rising, and thereby drive domestic demand, serve the development of scientific and technological innovation, and support the building of a strong financial power.