Three New Board Leaders Respond To The Five Hotspots

< p > recently, the SFC has publicly solicited public opinions and suggestions on the management measures for the acquisition of unlisted public companies (Draft), and the management measures for major asset restructuring of non listed public companies (Draft). After the formal announcement of the acquisition and reorganization measures, the functions of the share transfer system will be further improved, and the ability to serve small and medium enterprises will be further enhanced. < /p >
< p > on the merger and reorganization of the new three boards, the person in charge said that the national share transfer system will formulate and launch a supporting system, and clear the business process in the aspects of information disclosure, stop and resume, insider reporting and so on, so as to ensure the smooth implementation of the unlisted public companies and the purchase and reorganization. At present, the national stock transfer system company is formulating guidelines for insider information reporting, which will be announced after the promulgation of the reorganization measures. The guide will provide a clear guide to the insider's scope, the materials to be submitted and the way of submission. < /p >
< p > on the financing of the new three boards, the official said that investment and financing is one of the basic functions of the securities market. The national share transfer system supports and encourages the development of small and medium enterprises, and encourages and creates conditions for listed company to provide various financing facilities, including preferred stock, corporate bonds and other financial instruments, which will be launched in an effort to further enrich listed company's financing channels. At present, the national share transfer system has established a common stock issuing system characterized by "small, fast and flexible". The listed company stock issue is based on post filing, without financial conditions, nor does it limit the interval between issuers. The issuer can determine the issue object through the market way of road show, inquiry and so on, and the issuer can subscribe shares for cash or non cash assets, so the mechanism design is flexible and convenient. < /p >
< p > he also introduced that since the existing a href= "//www.sjfzxm.com/news/index_c.asp" > listed company < /a > since its listing, the stock issue has been issued 146 times in the first quarter of this year, and the total amount of financing is 3 billion 887 million yuan. At present, the function of market financing has been brought into play. In addition to issuing stock financing, the national share transfer system has an obvious effect on the integration of small and micro financial services policy measures and credit enhancement to listed company, and the ability of listed companies to obtain indirect financing services such as bank credit has been significantly improved, and indirect financing methods have also been diversified. The existing listed company has achieved indirect financing totaling 6 billion 756 million yuan since its listing, mainly based on bank loans and short-term financing within 1 years. < /p >
< p > at present, the market transaction of the share transfer system in China is not active. The reason for this is that the listed company has a high concentration of shares, a shortage of tradable shares, and a long-term shareholding of investors. < /p >
< p > "from the positioning and characteristics of the market, we can not measure the share transfer system of the whole country by the transaction volume and turnover rate of the main board. The national share transfer system serves as a service medium for small and medium micro enterprises and industrial capital, not for the purpose of high turnover rate." He said that the national share transfer system will improve the market function, effectively promote the docking of investment and financing, and create conditions for investors to participate in the market more efficiently and conveniently. < /p >
< p > < < a href= > //www.sjfzxm.com/news/index_c.asp > > market < /a > people think that the whole country is less than a href= //www.sjfzxm.com/news/index_c.asp > share transfer < /a > system supervision is very loose, or even lack effective supervision measures. In response, the person in charge denied it. He said that the national share transfer system adheres to the concept of marketization, rather than deregulation, rather than lack of regulation, but plays a more self-regulatory role. At present, the national stock transfer system has set up a five in one regulatory framework. He also revealed that the national share transfer system company will further innovate the supervision mode and effectively improve the supervision efficiency. At present, the national stock transfer system company is working closely with the relevant departments of the China Securities Regulatory Commission to establish a sound regulatory system for non listed public companies, and build a centralized and unified regulatory system based on information disclosure regulatory compliance as the main line, with the continuous supervision of the securities dealers as the starting point, and the self regulatory management of the national share transfer system as the core, and the dispatched agencies as the guarantee for the subsequent investigation and punishment. < /p >
< p > the question of whether the access standard of the share transfer system of the whole country is too low, the person in charge said that the access condition stipulated in the national share transfer system is only the minimum requirement. On this basis, the stock transfer system carries out a strict examination of the enterprise declaration materials, and requires the enterprise to make full disclosure of information for the risks and problems existing in the application enterprise, so that investors and the market can make judgments and choices. In addition, based on the close relationship between self interest and the quality and growth of enterprises, the sponsor will set up their own selection criteria. The share transfer system of the whole country adheres to the principle of marketization, gives the initiative of the value judgement of the listed companies to the market completely, and strengthens the supervision after and after the event, urges the market players to return to their duties, and builds a specialized institutional market with integrity disclosure and rational investment. < /p >