China's electronics sector became the largest industry by total market capitalization in the A-share market last year, overtaking the banking sector, Chen Huaping, vice-chairman of the China Securities Regulatory Commission, said at the 30th China Capital Market Forum (2026) in Beijing on Sunday.

"The number of technology companies among the top 50 A-share firms by market value has risen to 24, up from 18 five years ago," Chen said.

He noted that A-share listed companies paid a total of 2.55 trillion yuan ($352 billion) in cash dividends last year, a record high and twice the combined scale of initial public offerings and refinancing during the same period. More companies are now distributing dividends multiple times a year, he added.

The CSRC released the "M&A Six Measures", along with supporting rules, to further step up support for listed companies to strengthen and expand their operations, Chen said.

Looking ahead, the regulator will continue to improve the institutional environment for long-term investment, encourage greater participation of medium and long-term capital, expand products and risk management tools tailored to long-term investment, and further optimize arrangements for qualified foreign investors, so that capital is willing to enter, stay and grow in the market, Chen said.

The CSRC will also deepen reforms of the STAR Market and the ChiNext board, advance refinancing reforms, accelerate the development of a multi-tier capital market system, improve the fundraising, investment and exit cycle for private equity and venture capital, and enhance full life-cycle services for technology innovation-driven companies.

In addition, it will promote stronger value creation by listed companies, accelerate the development of first-class investment banks and institutions, strengthen differentiated regulations, and improve professional capabilities in value discovery and wealth management.

yinmingyue@chinadaily.com.cn