In this process, we warmly welcome the involvement of overseas financial institutions with a further opening-up of China’s banking, insurance, securities, and trust sectors. We especially welcome experienced asset management institutions, along with domestic counterparts, to raise RMB capital and invest in the RMB-denominated securities market. Third, the financing market system must be better suited to the life cycle of enterprises.
Enterprises in different development stages have financing needs different in nature and feature. Venture capital suits the financing feature of startups; bank credit is more favorable for enterprises at the growth stage; and bonds, stocks, and other direct financing tools are of great importance to relatively mature businesses.