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Opinion

Promoting the Listing of Service Consumer Enterprises is Significant

The China Securities Regulatory Commission (CSRC) recently held a symposium on capital market support for the development of modern service industries and new types of consumer enterprises. The meeting pointed out that supporting the high-quality and efficient development of related enterprises is not only an inherent requirement for the capital market to serve the real economy but also beneficial for optimizing the structure of A-share listed companies, enhancing the market's inherent stability, and increasing investor returns.

Promoting the listing of service consumer enterprises is a key measure for the capital market to fulfill its mission of serving the real economy. New types of consumption and modern service industries are directly linked to people's livelihoods and industrial upgrades, making them vital components of the real economy. Supporting the listing of high-quality innovative enterprises in related fields not only helps boost consumption and promote high-quality, full employment but also aligns precisely with national development strategies, enabling the capital market to better serve the broader national economic and social development.

Integrating high-quality service consumer enterprises is an inevitable choice for optimizing the A-share structure and enhancing market resilience. The regulatory authorities' explicit support for the listing of related enterprises aims to address structural shortcomings in the market, diversify the business landscape of listed companies, and attract more long-term and strategic capital, thereby strengthening market stability and increasing long-term returns for investors.

Empowering the development of service consumer enterprises is also an effective lever for driving industrial chain upgrades and building a modern industrial system. New types of consumption and modern service industries deeply integrate cutting-edge technologies such as artificial intelligence, the Internet of Things, and biotechnology, exerting a strong radiating and driving effect on upstream and downstream industries. The capital market's provision of funding support will help enterprises increase R&D investment, expand market reach, optimize products and services, and unblock pathways for collaborative development across the industrial chains, thereby promoting overall industrial transformation and upgrading.

Supporting the industrial upgrade of service consumption is crucial for boosting domestic demand and stabilizing the economic foundation. China's consumer market holds immense potential. Currently, new types of consumption, such as digital consumption, green consumption, and health consumption, are flourishing. The capital market's targeted support for such enterprises will fully unleash the vitality of domestic demand, leveraging the advantages of the vast consumer market to activate industrial growth momentum.

Policy

1. The notice on cotton target price policies for 2026–2028, issued by the National Development and Reform Commission and the Ministry of Finance, states that the target price for cotton in Xinjiang from 2026 to 2028 will be RMB 18,600 per ton.

2. According to the State Administration for Market Regulation, starting in 2025, China has initiated a special project to upgrade standards in key traditional industries such as building materials, machinery, and petrochemicals, planning to revise and issue over 4,300 national standards within three years. So far, 1,327 national standards have been released, achieving notable progress.

Data

1. In the first four months, China's main gas pipeline system transported more than 80 billion cubic meters of natural gas. With over 110,000 km of main oil and gas pipelines now in operation, the country has laid a solid foundation for its energy transition.

2. In the first four months of this year, China’s comprehensive bonded zones saw over RMB 2.7 trillion in total foreign trade value, up 25.2 percent year-on-year, accounting for 16.8 percent of the country's total foreign trade, according to the General Administration of Customs. Comprehensive bonded zones now serve as vital platforms for supporting China's foreign trade development.

3. Data from the Ministry of Commerce and the State Administration of Foreign Exchange showed that China's outbound direct investment reached RMB 429.42 billion in the first four months of this year, up 3.9 percent from a year earlier. In U.S. dollar terms, the figure stood at USD 61.99 billion, up 7.7 percent.

4. In the first quarter matcha exports from Zhejiang Province hit 1,241.97 metric tons, valued at RMB 140 million, up 7.3 times from a year earlier. China produces nearly 70 percent of the world's matcha, with output surpassing 12,000 metric tons in 2025, making it the world's largest producer.

5. According to data from the Gaoqi Border Inspection Station of the Xiamen Border Inspection General Station, as of 10 a.m. on May 26, passenger traffic between the two sides of the Taiwan Strait through Xiamen Port had surpassed one million trips since the beginning of the year, an increase of over 20 percent year-on-year, setting a new record for the fastest time to reach the million-trip mark.

6. In the first four months this year, the total profits made by major industrial enterprises were about RMB 2.4 trillion, up 18.2 percent year-on-year, according to data released by the National Bureau of Statistics.

7. A total of 23.21 billion cross-regional passenger trips were made across China in the January–April period, up 2.1 percent year-on-year, while urban passenger trips amounted to 34.72 billion, a 1.6 percent year-on-year increase, the Ministry of Transport announced on May 27.

8. The number of 5G base stations in China topped 5 million by the end of April, a net increase of 171,000 from the end of last year, according to the Ministry of Industry and Information Technology. This accounted for 38.7 percent of all mobile base stations, up 0.5 percentage points from the first quarter.

9. China's cumulative installed power generation capacity had reached 3.99 billion kilowatts by the end of April 2026, marking a year-on-year increase of 14.2 percent, according to the National Energy Administration.

10. In April, sales of smart glasses on key platforms surged 5.9 times, while handheld photography devices, smart blood glucose meters, and Grade 1 energy-efficient washing machines all recorded double-digit growth. For the first time, the market penetration rate of new energy passenger vehicles exceeded 60 percent.

(Source: Economic Daily)