Fu Hao, deputy general manager of the Shanghai Stock Exchange, explained the goal of further deepening capital market reforms with "18 words".

At the international investor conference held at the Shanghai Stock Exchange today, Fu Hao, Vice General Manager of the Shanghai Stock Exchange, stated that in the first half of 2025, the overall R&D investment of the STAR Market accounted for nearly 13%, with net profits exceeding 2.8 times. As of now, the STAR Market has attracted 592 listed companies with a total market value of over 10 trillion RMB, raising more than 1.1 trillion RMB in total financing. It has formed a complete "chain-cluster" industrial structure in the fields of integrated circuits, biopharmaceuticals, artificial intelligence, and high-end equipment. He stated that the Shanghai Stock Exchange will continue to focus on the overall situation of building the "five centers" in Shanghai, further deepen the reform of the capital market: providing a more perfect system for international investors to "see clearly and invest steadily", creating a smoother cooperation mechanism for Sci-Tech innovation enterprises to "go further and develop better", and offering a more efficient service ecology to make capital allocation "smoother and more efficient".