Beijing unveils major policies to bolster capital market

Beijing announced several major policy documents Wednesday aimed at invigorating its financial system and accelerating efforts to become a national financial hub.

The announcements were made during "The Voice of Financial Street" event at the Annual Conference of Financial Street Forum 2025. The new policies seek to make the city a leading destination for venture capital and equity investment and shore up the broader capital market.

The Beijing Municipal Bureau of Financial Work, along with relevant departments, introduced two documents. The first, Guidance on Promoting the High-Quality Development of Venture Capital and Equity Investment in Beijing, focuses on attracting long-term patient capital by tapping into funding sources like social security, enterprise annuities and insurance.

The policy seeks to broaden two-way openness through mechanisms like cross-border parallel funds, optimize intermediary services, leverage data empowerment, and expand the pilot program for fund share transfers.

Pan Li, deputy director of the Beijing Municipal Bureau of Financial Work, said the policies will make Beijing a leading destination for venture capital and equity investment by promoting "patient capital" and streamlining "exit channels."

The second policy, Guidance on Assisting M&A to Promote the High-Quality Development of Listed Companies, provides 19 measures to guide mergers and acquisitions (M&A). The measures will target key capital functions, intending to direct more resources toward new quality productive forces and boost industrial integration.

The Listed Company M&A and Development Service Platform was also launched at the event, offering one-stop M&A services that include information distribution and transaction matchmaking.

Six government departments, including the Beijing branch of the China Securities Regulatory Commission, released the Decision on Promoting the Entry of Medium- and Long-Term Funds into the Market. The measures seek to build a long-term investment orientation across the market.

Public funds in Beijing have already adopted three-year or longer assessment periods, with state-owned commercial insurance companies now aligning their review cycles.

The event also saw the unveiling of the China (Beijing) Securities and Futures Arbitration Center, advancing Beijing's efforts to strengthen legal protections in its capital market through specialized dispute resolution services.