The People's Government of Guangdong Province has recently promulgated the "Several Measures on Enhancing Capital Market Quality to Support Guangdong's Modernization Drive." The document underscores the importance of reinforcing the leading part played by state assets and state-owned enterprises (SOEs) in the listing sector. It advocates for SOE groups to consolidate high-quality resources and concentrate them within listed companies via asset restructuring, mergers and acquisitions, cross-market operations, and other strategic measures, aiming to elevate the degree of asset securitization. Concurrently, it outlines plans to refine the governance structure of state-controlled listed companies by incorporating R&D investments into business performance evaluations, enhancing equity incentives and employee stock ownership schemes, integrating market value management metrics into assessment frameworks, and fostering reasonable valuation improvements through shareholding augmentations and repurchases.