China has officially unveiled the 15th Five-Year Plan for Building a Strong Financial Country. The People’s Bank of China has rolled out supporting reform documents and nine special action plans, clarifying the main reform roadmap for the domestic financial system in the next stage. The China Securities Regulatory Commission stated at the press conference that it will keep expanding access channels for medium and long-term capital, improve capital market rules, support the development of new quality productive forces and build the preferred listing destination for high-quality enterprises.

The plan centers on five key financial priorities: technology finance, green finance, inclusive finance, elderly-care finance and digital finance. Regulators will refine the full set of rules covering stock issuance, trading and delisting, improve market inclusiveness to fit the demands of emerging and future industries. Meanwhile, authorities guide insurance funds, social security funds and pension funds to increase allocation to equity assets, reducing market volatility caused by excessive short-term capital in the A-share market.

Supportive measures from the central bank include optimized liquidity tools. It will conduct overnight reverse repurchase operations with a daily cap of 600 billion yuan from September 14 to 17 to maintain stable liquidity within the banking system. Market institutions interpret the core goal of the policy as building a modern financial framework and balancing financial innovation and risk prevention. In the medium and long run, these policies benefit direct financing for hard technology, advanced manufacturing and green sectors. Risks lie in policy implementation pace and corporate earnings recovery, which may sway market sentiment. Investors will monitor supporting implementation rules, inflow scale of long-term institutional capital and IPO activities of technology enterprises.