Long-term capital in capital market:Effective supply and development strategies
Promoting long-term capital formation is an urgent and core task of financial supply-side structural reform.Giving full play to the advantages of long-term capital supply is an important measure to promote the high-quality development of the capital market.The central government and regulatory authorities have repeatedly proposed to activate the capital market,boost investors'confidence,and introduce medium-and long-term capital such as"pension funds,insurance assets,sovereign wealth funds,and endowment funds and foundation".This paper investigates the development status and overall scale of long-term capital in global and developed countries and the composition characteristics of China's long-term capital.This paper finds that China's long-term capital has the advantages of relatively high proportions of sovereign wealth funds and insurance assets and the disadvantages of relatively low proportions of pension funds and endowment funds.As an important measure to accelerate the reform of the investment side of the capital market,this paper proposes to accelerate the effective supply of long-term capital,promote the formation of long-term capital,give full play to the advantages of long-term capital,assist in the high-quality development of the capital market,conduct an in-depth analysis of the significance of expanding long-term capital and reforming its stock,and put forward relevant policy suggestions.
long-term capital supplylong-term capital formationactive capital marketshigh-quality development of finance
万方数据
维普
