China News Service, Beijing, September 7 (Reporter Xia Bin) Tan Congyan, vice president of the China Securities Finance Research Institute, said on the 7th that with the implementation of reform and opening up measures, the scale, quality and efficiency of China's capital market have been significantly improved, and the vitality of operation has also been improved. Significantly enhanced.

The positive feedback of reform and development and the improvement of market expectations is gradually taking shape, and extensive and profound structural changes are taking place.

　　On the same day, the China Capital Market Investment Summit of the 2021 Trade Fair Finance Exhibition was held in Beijing. This event was hosted by the China Association of Listed Companies, China Securities Finance Research Institute, Beijing Local Financial Supervision and Administration Bureau, and Beijing Shunyi District People’s Government. Sponsored by Investment Securities, China Universal Fund, Jinbo Xingyan (Beijing) Information Co., Ltd.

　　"We see the continuous improvement of the quality of listed companies." Tan Congyan said that in the first half of this year, the operating income and net profit of A-share listed companies increased by 26% and 44% respectively year-on-year. , GEM high-tech enterprises accounted for more than 90%.

According to estimates, the market value of the A-share consumer medical information technology industry has increased from 38% in 2018 to nearly 47% at the end of June this year, accounting for nearly half.

A group of leading companies in emerging industries such as new energy semiconductors have emerged in A shares.

　　At the same time, the investor structure is also more optimized.

Tan Congyan said that since the beginning of this year, newly issued public funds have exceeded 2 trillion yuan, of which equity funds accounted for more than 80%. Public funds are playing an increasingly important role in the allocation of residents' resources, and foreign capital has continued to flow in.

　　Tan Congyan also mentioned that the inherent stability of the market is improving. Since 2019, the A-share market has generally maintained a steady and progressive trend, and the level of market volatility has tended to converge; the market ecology has continued to improve, and the speculation of poorly performing stocks has significantly cooled down. , The normalization of delisting is obviously speeding up, and a benign interaction between the survival of the fittest and the inferior is taking shape.

　　Tan Congyan said frankly that since the outbreak of the global epidemic, the international financial market is facing a process of risk repricing and asset allocation rebalancing. The Chinese government has coordinated epidemic prevention and control and economic and social development to provide a strong guarantee for the stable and healthy development of the capital market.

The structure of China's listed companies has also been continuously optimized, and the main force has become increasingly prominent.

The international competitiveness of the A-share market and the value of asset allocation continue to increase.

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