China'S First Provincial Capital Market Service Platform Unveiled

Shaanxi capital market service center recently opened in Xi'an, which is the first provincial capital market service platform in China.

The image of Shaanxi capital market service center is connected with enterprises and exchanges at one end.

As a policy service organization serving the reform and development of the capital market in Shaanxi Province and the northwest region, the center will rely on the market resources of Shanghai and Shenzhen stock exchanges and the national stock transfer companies and send experts to Shaanxi base to develop the capital market of Shaanxi Province, especially for the enterprises in Shaanxi Province.

It is worth mentioning that in the past two years, Shaanxi has successively established cooperation with the three major exchanges, established bases in Shaanxi, and promoted the "localization" of exchanges to serve Shaanxi enterprises.

For example, Shenzhen Stock Exchange has successively signed strategic cooperation agreements with Shaanxi Province, Xi'an, Baoji and Tongchuan, and has established Shaanxi service base and Baoji service base of Shenzhen Stock Exchange in Xi'an and Baoji.

After the opening of the Shaanxi capital market service center, how will it cooperate with the three major exchanges in Shaanxi base? How to help Shaanxi listed companies achieve the 5-year doubling target?

After the opening of the capital market service center, the cooperation between Shaanxi and the three major exchange bases has become closer- Visual China

The first provincial platform in China

Shaanxi capital market service center was established by Kaiyuan securities, Shaanxi equity trading center and Xi'an capital.

The center is a policy service organization serving the reform and development of the capital market in Shaanxi Province and the northwest region. Under the guidance and supervision of Shaanxi Provincial Finance Bureau and Shaanxi securities regulatory bureau, the center carries out service work.

Su HuChao, director of the local financial supervision and Administration Bureau of Shaanxi Province, said in his speech at the unveiling ceremony that "the establishment of the service center is a practical measure to consolidate and enhance the strategic cooperation level between the province and the exchange, and to deepen the normalized cooperation between each other. It is also to promote provincial securities companies and regional equity market operators to practice the inclusive financial concept and fulfill the responsibilities of state-owned enterprises, It is an important measure to serve the high-quality development of the provincial capital market. "

The unveiling of the service center has also added a new starting point for Shaanxi enterprises to go public.

Gao Hang, director and executive director of Shaanxi capital market service center, said that the service center relies on the market resources of the three major domestic exchanges and dispatched experts to Shaanxi base, aiming to develop all the main bodies of the capital market in Shaanxi Province, especially to serve enterprises in the stock market of Shaanxi Province.

The service center will provide work guarantee for Shanghai and Shenzhen stock exchanges and service bases of national stock transfer companies in Shaanxi, strengthen service coordination, and jointly carry out activities such as the cultivation of listed reserve enterprises.

The reporter of the 21st century economic report has learned that it specifically includes holding special education and training for leading cadres and entrepreneurs, capital market service week, municipal banks and other activities, as well as regular investigation and visit to enterprises, so as to provide public welfare consulting services for reserve enterprises to be listed and issue bonds.

At the same time, the service center will also rely on the resources and professional advantages of the exchange to provide local governments and relevant departments with capital market information dynamics and policy consultation.

"Service center is an important carrier and platform to promote the reform and innovation of regional capital market and high-quality economic development." According to Gao Hang, the center will provide standardized training, stock and debt financing roadshows, publicity, industrial exchanges and other listing and listing training services for warehousing enterprises.

For the first provincial capital market service platform launched by Shaanxi, industry experts who have long been concerned about the development of capital market have also given evaluation.

Wu Gang, deputy director of the Economic Research Institute of Shaanxi Academy of Social Sciences, told reporters of the 21st century economic report that the lagging development of the capital market, the single financing channel, the difficulty and high cost of financing in the late developing areas, especially in the western region, have been the focus problems that have plagued the high-quality development of the region.

In his view, in recent years, the state has further promoted the healthy development of the capital market, deepened the reform of the factor market, and promoted the formation of a new pattern in the development of the western region. Later developed regions have paid more attention to the cultivation and development of the bond market and stock market, expanded the overseas financing market, vigorously supported the listing and financing of enterprises, and solved the financing problems of development.

"The government has guided the establishment of capital market service centers and other institutions to highlight the reform and innovation measures of" deregulation, management and service ". The transformation from" fragmented "services to" professional integration "services has made financing services more professional, accurate and efficient." He said.

Dong Dengxin, director of the Institute of securities and finance, Wuhan University of science and technology, believes that "for the problem of information asymmetry in IPO, the government departments should build a platform to connect with the exchange and local high-quality enterprises, and provide corresponding services, so that enterprises can timely grasp the information dynamics of the capital market, and play a very important role in solving the information asymmetry

In an interview with the 21st century economic reporter, he said that the high-quality development of the economy needs high-quality enterprises and talents, and these training and service work are helpful.

Cooperate with the three major exchanges to increase the bid

After the opening of the capital market service center, the cooperation between Shaanxi and the three major exchange bases has become closer.

The 21st century economic reporter noted that in recent years, the Shaanxi provincial government has signed strategic cooperation agreements with the Shanghai, Shenzhen and Hong Kong stock exchanges and the national stock transfer companies, building the northwest base of the Shanghai Stock Exchange, the Shaanxi base of the Shenzhen Stock Exchange, and the northwest base of the national stock transfer system (new third board).

On this basis, the above three major exchanges have sent staff to work in the field, cooperated with the three-level financial work departments in the urban areas of Shaanxi Province, conducted regular research, visited enterprises and conducted on-site work, and held special training activities, which promoted the rapid development of Shaanxi capital market.

Among them, in August 2020, Shanghai Stock Exchange and Shaanxi provincial government signed a strategic cooperation memorandum, which clearly established the capital market service base of Shanghai Stock Exchange in Shaanxi. In the past six years, the Shanghai Stock Exchange has also signed a strategic cooperation framework agreement with the Xi'an municipal government, calling for accelerating the cultivation and guidance of listing resources in Xi'an.

"In the process of implementation, we have also explored and accumulated some fruitful practices and experiences. Since its opening in Xi'an, the science and technology innovation board cultivation center of Shanghai Stock Exchange has held three periods of training, covering more than 100 enterprises in Shaanxi, Qinghai, Gansu, Ningxia and northwest Inner Mongolia. " Zheng Lingyun, senior manager of the Shanghai Stock Exchange's IPO service center, said.

He said that the Shanghai Stock Exchange will continue to do a good job in market services, promote the in-depth docking between the science and technology innovation board and Shaanxi Province, and the science and technology innovation board in-depth service of Shaanxi science and technology innovation.

The Shenzhen Stock Exchange also focuses on cooperation with Shaanxi.

Since 2019, SZSE has successively signed strategic cooperation agreements with Shaanxi Province, Xi'an, Baoji and Tongchuan, and established Shaanxi service base and Baoji service base of Shenzhen Stock Exchange in Xi'an and Baoji. At the same time, it also promotes the information management system of Shaanxi Province's back-up listed enterprises and the online guidance enterprise filing system of Shaanxi securities regulatory bureau.

In terms of enterprises, Shaanxi base of Shenzhen Stock Exchange has continued to pay attention to and contact with Shaanxi key enterprises through professional suggestions, and promoted the successful listing of Perry shares, Meichang shares, Zhongtian rocket and Zhongrong electric, and the meetings of e-point, Rongxin education and Meineng energy have also passed smoothly.

Lu Cong, director of Shaanxi base of Shenzhen Stock Exchange, said, "through the professional platform of Shaanxi capital market service center, we should strengthen the contact with financial, science and technology, scientific research institutions and other departments and institutions in the provincial and urban areas, and cooperate with the three-year action plan for listing enterprises determined by Shaanxi Province, so as to form a working force."

He said that the Shaanxi base of Shenzhen Stock Exchange will strengthen the cultivation of Shaanxi's advantageous industries, support and encourage more high-quality and mature enterprises and related enterprises in Shaanxi to be listed on the main board of Shenzhen Stock Exchange and the growth enterprise market, so as to jointly make positive contributions to the catching up and Surpassing of Shaanxi economy.

In terms of the new third board, the national stock transfer system also has a base in Shaanxi.

In April this year, the northwest base of the new third board was officially put into operation, focusing on serving small and medium-sized enterprises and local economic development.

In less than half a year, the northwest base of the new third board, together with Shaanxi provincial and municipal financial bureaus and some financial institutions, visited enterprises to provide support for the development and growth of enterprises with the help of the capital market through discussion and other forms. At present, it has covered nearly 50 enterprises in Shaanxi.

Yang Lu, chief representative of the northwest region of the national stock transfer company, said, "at present, we have reached the intention of capital market service cooperation with Yulin, Baoji and other cities. On this basis, we will further explore the establishment of the new third board market service sub station to serve the district and county-level sinking of the new third board market."

The reporter of the 21st century economic report has learned that incomplete statistics show that after the establishment of the three bases, more than 300 enterprises have been visited, nearly 100 training activities have been held, and more than 3000 leading cadres and entrepreneurs have been trained.

The number of listed companies is expected to double in five years

Behind the above-mentioned details, there are many bright spots in the development of capital market in Shaanxi in recent years, especially the listing of enterprises.

In 2019, there will be 6 new listed enterprises in Shaanxi, more than the sum of 2016, 2017 and 2018. In 2020, 12 new companies (audited) will be added, and the number will exceed 8 in 2010, reaching the best level in history.

"This year, six new enterprises have been added in our province, of which 5 have been approved, 1 has been listed overseas, and 16 enterprises have yet to be approved. The good momentum of rapid growth has been further consolidated and improved." Su HuChao said in his speech at the unveiling ceremony.

It is worth noting that Shaanxi capital market has also achieved rapid development in bond, fund, regional equity market and other business sectors.

Among them, the bond market of Shaanxi Province has developed steadily and healthily. By the end of July this year, the balance of corporate credit bonds in Shaanxi Province was 634 billion yuan, which strongly supported and boosted the development of the real economy.

In terms of private equity funds, Shaanxi Province has also achieved rapid development, with prominent investment highland position. At the end of last year, the total principal of investment projects in Shaanxi by domestic and foreign investment institutions totaled 155.511 billion yuan, accounting for nearly 2 / 3 of the total; The scale of organization management in Shaanxi Province has exceeded 100 billion yuan.

At the same time, Shaanxi Province regional equity market innovation and development, characteristic plate, personalized services have been carried out, mergers and acquisitions within and outside the province are active. The rapid development of the capital market has greatly promoted the high-quality development of the real economy.

The reporter of the 21st century economic report has noticed that with the increasing attention paid to the capital market, Shaanxi's support for the capital market is also increasing.

Shaanxi has outstanding advantages and potential in scientific and technological innovation. It is a major province of science and education, and an important national defense science and technology industrial base. It has a number of advantageous industries related to the national economy and people's livelihood, and has become the birthplace of the concept of "hard science and technology". Especially this year, the launch of "qinchuangyuan" has injected new momentum into Shaanxi's innovation driven development.

Zheng Lingyun, senior manager of the issuance and listing service center of Shanghai Stock Exchange, said, "at present, there are 14 enterprises applying for sci tech innovation board in Shaanxi, ranking the 9th in China. Among them, 6 are listed on the market and 2 are passed the meeting, ranking among the top in the central and western regions, which can be described as brilliant achievements. "

As an important aspect of domestic multi-level capital market, the new third board has also made rapid progress. This year, five Shaanxi enterprises have landed on the new third board; Eight enterprises entered the innovation level, and four enterprises entered the process of applying for promotion to the selection level.

"Ten Shaanxi enterprises have raised 435 million yuan through directional issuance (ranking 8th in China), and one enterprise has raised 500 million yuan through public offering (ranking the third in China based on the total amount of regions)." Yang Lu said.

In addition, looking at the measures taken by Shaanxi to promote the listing of enterprises, there are still many heavy moves.

For example, the Shaanxi provincial government has established a provincial leading group to promote the listing of enterprises; Policy documents such as the measures for the management and service of listed reserve enterprises and the working rules of green channel mechanism for enterprise listing government affairs services were printed and distributed. It has signed strategic cooperation agreements with Shanghai, Shenzhen and Hong Kong stock exchanges and national stock transfer companies, and built a service base in Shaanxi; Establish equity investment guidance fund and capital market service center of provincial listed reserve enterprises

In the first year of the 14th five year plan, Shaanxi's capital market also ushered in new development. In the "Implementation Opinions on further improving the quality of listed companies" issued by the Shaanxi provincial government, the development plan and target tasks of listing work in the next five years are clarified.

It is mentioned that the number of listed companies should be "doubled" by the end of 2025. This also means that by then, the number of Listed Companies in Shaanxi is expected to reach 120, entering the second echelon of China.