Originated from securities trader China
Source: Official Wechat of China Securities Regulatory Commission
Wu Qing, Secretary of the Party Committee and Chairman of the CSRC, systematically expounded the reform path of high-quality development of the capital market when attending the Lujiazui Forum on June 19. He said that the CSRC would issue eight measures to deepen the reform of the Science and Technology Innovation Board, further highlight the "hard science and technology" characteristics of the Science and Technology Innovation Board, improve the systems and mechanisms of issuance and underwriting, mergers and acquisitions, equity incentives, and transactions, and better serve scientific and technological innovation and the development of new quality productivity.
Look at the key content:
1. The development of new quality productivity not only includes the cultivation and expansion of new industries, but also includes the transformation and upgrading of traditional industries. The urgent task is to deeply study the characteristics and development laws of relevant enterprises and their needs in investment and financing, incentives and constraints, corporate governance and other aspects, so as to purposefully enrich the tools, products and services of the capital market.
2. Actively create conditions to attract more medium - and long-term funds into the capital market, optimize support policies around the whole chain of venture capital and private equity investment "raising investment, management and withdrawal", guide better investment in early, small and hard technology, and promote the virtuous circle of "technology industry finance".
3. Only by creating a good atmosphere that encourages innovation and tolerates failure can we promote the vigorous development of new quality productivity. This requires consensus from all sides to get through the blocking and blocking.
4. Further guide listed companies to establish the awareness of actively rewarding investors, strengthen communication with investors, improve information transparency and governance standardization, and better use cash dividends, buyback cancellation and other ways to repay investors.
5. Support listed companies to use various capital market tools to enhance their core competitiveness, in particular, give full play to the role of capital market as the main channel for mergers and acquisitions, and help listed companies to strengthen horizontal and vertical industrial integration and coordination. Accelerate the improvement of institutional rules, create a better policy environment, and promote the formation of more demonstration cases.
6. Further increase the support for innovative enterprises, encourage the strengthening of mergers and acquisitions in the upstream and downstream of the industrial chain, and support the absorption and merger of relevant listed companies. In terms of payment instruments, encourage the comprehensive use of shares, cash, directional convertible bonds and other ways to study and introduce the installment payment of share consideration, so as to create better conditions for market parties to conclude M&A transactions.
7. Investment banks and other intermediaries are diligent and responsible, accelerating the improvement of professional ability, playing a better role as "gatekeepers" while giving better play to the role of "matchmakers" of transactions, and supporting listed companies to strengthen their main businesses and strengthen their chains in the process of promoting industrial innovation through better and more professional services.
8. We must put strong supervision in a more prominent position, constantly improve and strengthen supervision on the track of legalization, "early identify, early warn, early expose, and early dispose" of various risks, and constantly improve the internal stability of the capital market.
9. The investor protection involved in delisting must be "pursued to the end", and the relevant responsible personnel must be severely punished in accordance with the law. "Fishing in troubled waters" and "retreating" are not allowed.
10. We will actively strengthen cooperation with judicial authorities and other aspects, give better play to the dynamic role of insurance institutions, promote the implementation of more cases of litigation, advance compensation, party commitment and other cases of securities special representatives, and provide more powerful support for investors to obtain compensation and relief.
Editor in charge: Peng Bo
Checked by: Wang Wei
Special statement: The above content (including pictures or videos, if any) is uploaded and released by users of "Netease" on our media platform, and this platform only provides information storage services.
Notice: The content above (including the pictures and videos if any) is uploaded and posted by a user of NetEase Hao, which is a social media platform and only provides information storage services.
