The western region is relatively short of capital resources and needs policy support, especially direct financing. Direct financing mainly includes two channels, equity financing and debt financing. The capital market has formed a multi-level financing system, from the fourth board to the new third board to the Shanghai and Shenzhen exchanges, which can better meet the needs of enterprises in the western region. Dong Dengxin, director of the Institute of Finance and securities of Wuhan University of science and technology, said in an interview with the Securities Daily that capital is the core of social resource allocation. Guiding the flow of financing resources to the western region through the capital market will also drive the flow of talents and other resources.
Pan Helin, executive director of the Digital Economy Research Institute of Central South University of Finance and law, told Securities Daily that by supporting direct financing in the western region, we can further meet the diversified financing needs of the real economy. It can not only actively support the standardized development of listed companies, but also build up the market confidence in Listed Companies in the western region. At the same time, it can give full play to the leading and demonstration role of capital market in local economy. In addition, to support the direct financing in the western region, we can absorb the social hot money to invest in the production and operation of enterprises in the western region, thus making up for the lack of indirect financing, which is conducive to the rapid and reasonable allocation of funds and the improvement of use efficiency, and then reduce the cost of financing and improve investment income.
Pan Helin said that in the task of helping the western region to get rid of poverty, the capital market can play the following three roles: first, to promote industrial poverty alleviation, the capital market can accurately meet the needs of industrial poverty alleviation projects in the western region, actively guide the poor regions to use the capital market to promote economic and social development, and effectively promote industrial upgrading and economic transformation. The second is to play the role of resource mobilization. The social capital and social resources in the western region are very limited. The capital market can provide information guidance, capital, technology and other support and related services for the development of the western region. In this regard, the capital market has an incomparable role in any other market. Third, we need to effectively align policies and reduce dislocation. In the process of poverty alleviation, there is a mismatch between Poverty Alleviation Policies and the needs of poverty-stricken areas and the poor population. The capital market can find problems directly, offer advice and suggestions to the government in time, make up for policy gaps, and become the advocates and promoters of policies, which is also the role that the capital market must play in poverty alleviation in the western region.
Source: responsible editor of Securities Daily: Yang qian_nf4425