Xi also stressed efforts to improve fiscal and taxation policies, vigorously develop technology finance, and optimize government procurement and talent cultivation, introduction and utilization to foster a robust environment that encourages innovation.

　　Tian Xuan, dean of Peking University's Guanghua School of Management, said: "China is transiting from factor-driven growth toward innovation-driven development. Capital is moving beyond its traditional role of financing capacity expansion in mature industries and increasingly taking on the earlier-stage, longer-term uncertainty involved in building future industries."

　　As of June 2026, the STAR Market had attracted 609 hard technology companies, with total funds raised through IPOs and refinancing exceeding 1.37 trillion yuan ($203 billion). More than 40 listed companies on the market have also entered cutting-edge fields such as quantum technology, 6G and biomanufacturing.

　　The China Securities Regulatory Commission has also introduced a regular "green channel" mechanism for IPO financing and mergers and acquisitions involving technology companies in strategically important core technology areas.

　　For instance, Unitree Robotics moved rapidly through the listing process, taking less than four months to go from the application acceptance stage to approval, marking the fastest review under the STAR Market's preliminary review mechanism since its implementation.

　　"Amid the rapid development of AI, rising geopolitical tensions and a growing emphasis on strategic security, China needs to build a financial system better aligned with the development of new quality productive forces," Tian said.

　　"This requires expanding the supply of patient capital, improving market structures, enhancing policy predictability and reducing resource misallocation, thereby providing sustained and solid financial support for innovation," he added.