Abstract
General Secretary Xi Jinping said at the Fifth Plenary Session of the 19th CPC Central Committee that “the new development concept is a systematic system. In the perspective of economic transformation, we should do a good start and a good step in development. Under the premise of comprehensive thinking of China’s capital market finance, adhere to the reform and innovation development, green coordinated development, resource sharing development, political open development” “In the perspective of economic transformation, Party members and cadres at all levels should adhere to the implementation of the new development concept, pay attention to the common prosperity, to achieve the modernization process of continuous development. To address the wealth gap between urban and rural areas, between regions and between populations.” This article is written after carefully studying the important speeches of General Secretary Xi Jinping and consulting a large number of relevant reference materials. This paper deeply reflects on the financial innovation characteristics of the capital market in China’s economic transformation period, and puts forward new suggestions on the development of economic transformation, aiming to help some government functionaries improve their understanding of the capital market.
Highlights
In recent years, China has achieved the miracle of reform and opening up by relying on the economic growth mode of domestic investment and foreign export
At the Fifth Plenary Session of the 19th CPC Central Committee, General Secretary Xi Jinping clearly proposed that "our functional departments should transform the traditional economic growth mode, eliminate the poverty gap, ensure that funds are invested in entities, and alleviate the financing difficulties of the real economy"
Under the special background of economic transformation, capital market, as the main component of China's economy, should formulate financial innovation strategies according to the actual development situation
Summary
China has achieved the miracle of reform and opening up by relying on the economic growth mode of domestic investment and foreign export. If we only rely on the past internal high investment, high consumption of economic growth situation, it is difficult to meet the future development needs of China. To this end, we should focus on tapping domestic demand, increasing people's income level, and promote the transformation of the form of economic growth into intensive. At the Fifth Plenary Session of the 19th CPC Central Committee, General Secretary Xi Jinping clearly proposed that "our functional departments should transform the traditional economic growth mode, eliminate the poverty gap, ensure that funds are invested in entities, and alleviate the financing difficulties of the real economy". Driven by the strong development of domestic economy, China's foreign trade investment has been increasing year after year [2]
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