On May 10, Wu Xiaoqiu, Dean of the National Institution for Finance and Development (RDI) at Renmin University of China, addressed the Theoretical Seminar on the Reform and Development of China's Capital Market. He emphasized that the capital market stands at the heart of modern finance, playing a strategic role in economic development and financial reform. Wu proposed three pivotal strategies for advancing the capital market: Firstly, enhance the competitiveness of listed companies, particularly their technological prowess, with a focus on supporting technology-based enterprises. Secondly, ensure ample liquidity by facilitating the influx of funds such as commercial insurance and social security funds into the market, while establishing a backstop fund for stability. Thirdly, drive reforms within the capital market, encompassing legal frameworks, policy guidelines, financial instruments, and more, with a strict emphasis on law enforcement and harsh penalties to combat fraudulent listings, misleading information disclosure, and other malpractices. These initiatives aim to refine the capital market environment and foster its sustained, healthy growth.