SFC chairman Liu Shiyu: encourage local government aid funds of listed companies
Early October 19th, before the Commission's official website announced that the chairman of the Commission Liu Shiyu on the key issues of market concern told Xinhua News Agency reporters interview, proposed 6 measures to boost market confidence and stability.
In the current market situation, investors expect the introduction of capital market reform and opening up new initiatives. Liu Shiyu said that the Commission has always adhere to the reform and opening up innovation as the main line to stabilize and boost market confidence. The recent advance of the main measures include the following aspects:
One is the upcoming "Securities and futures business institutions of private asset management business management". Allow the related products in the transition period of the rolling sequel, to undertake unearned assets. After the end of the transition period, is really difficult to complete the rectification of the products, the SFC approval, take appropriate measures to properly handle, ensure the effective connection of business activities, effectively protect the legitimate rights and interests of investors.
The two is to improve the legal system of share repurchase of listed companies as soon as possible. The relevant draft law has been in accordance with the procedures of legislation by the NPC Standing committee. The Commission will work with relevant departments to actively cooperate with the related work, efficient support to meet the conditions of listed companies to repurchase shares of compliance.
The three is to continue to deepen the reform of the mergers and acquisitions market. Has the introduction of mergers and acquisitions of small fast audit mechanism, according to industry to implement the "lane system audit," priority in application of high technology industry. Rich mergers and acquisitions payment instruments, improve audit efficiency, encourage and support the merger and reorganization of listed companies rely on the gifted to do bigger and stronger.
The four is to encourage the management of local government funds, qualified private equity investment funds, brokerage and information management products respectively or jointly organized a new fund to help promising but temporary operating difficulties of the listed company stock pledge to relieve the difficulties, to promote its healthy development.
The five is to encourage private equity funds through participation in non public offering, the transfer agreement, bulk transactions, purchase of shares of listed companies, listed companies involved in mergers and acquisitions.
Six is to continue to expand all-round opening up, foreign capital support management institutions to set up legal institutions in China, including in stocks and other equity assets, business information management.
In support of the development of private enterprises, Liu Shiyu also have some special support. He said that the private economy is an important part of the national economy blood, the competitiveness of private enterprise is an important part of national competitiveness, private holding listed companies are public companies. We must firmly adhere to the "two unswervingly", strengthen the innovation from the aspects of system and tools, support the development of private enterprises.
One is to enhance the inclusiveness of the gem, the gem to enhance the quality of listed companies. To promote the new three issue and exchange system reform, improve the listed companies financing services.
The two is to encourage all kinds of capital management institutions including private equity funds, to a more market-oriented way to raise funds, initiated the establishment of major investment in private enterprises equity investment fund, venture investment fund and bond investment funds, the active participation of the private listed company mergers and acquisitions.
The third is to explore the use of mature credit enhancement tools to help private enterprises especially private holding listed companies to solve the difficult problem of debt. Support for small and medium private enterprises issuing high-yield bonds, private debt and other special debt instruments.