The registration system reform of 18 submitted for registration gem was steadily promoted

category:Finance
 The registration system reform of 18 submitted for registration gem was steadily promoted


Tian Lihui, President of the Financial Development Research Institute of Nankai University, said in an interview with the Securities Daily that the reform of the gem and the pilot registration system are progressing smoothly, and the first batch of 18 enterprises that have been submitted for registration have been announced. One third of them are equipment manufacturing enterprises. This shows that Chinas industrialization process continues to move forward, and gem has contributed to the process of building China into an industrial power. From the geographical point of view, Guangdong enterprises are the majority, which is not only related to the gem platform located in Shenzhen, but also related to the innovation and entrepreneurship ability of Dawan district.

Li Zhan, chief economist of Zhongshan securities, told the Securities Daily that the 18 enterprises were mainly from equipment manufacturing, computer and other industries. The industry distribution shows the gradual implementation of the national strategy of innovation driven development, which also conforms to the positioning of the gem of three innovations and four innovations. These industries are generally relatively mature enterprises, which can give the gem registration system reform a good and stable start. In addition, the registered landlords of 18 enterprises should be concentrated in the economically developed areas such as the Pearl River Delta and the Yangtze River Delta with a good atmosphere for innovation and entrepreneurship, and have the soil for cultivating high-quality enterprises.

From the public information, it is found that at present, 6 enterprises have been suspended from auditing, and their sponsors are GF Securities. Previously, GF Securities was suspended for six months by the CSRC due to its involvement in Kangmei pharmaceutical fraud case.

Pan Helin told reporters that the current six enterprises to do is to replace the sponsor, and then complete the new due diligence, issued a report can re-enter the listing audit. The best way to avoid listing is to change sponsors quickly. Dont hesitate to save time.

In Tian Lihuis view, the suspension of audit of these six enterprises is not a return to the approval system, but the embodiment of the registration system. The key to the implementation of the registration system lies in professional sponsor institutions, but the sponsors of these six enterprises have been suspended by the CSRC. According to the relevant rules, the listing application hearing will be suspended. This is not a matter of the quality of the enterprises themselves, nor is it the result of the exercise of power by the exchange, but the problem of improper mate selection by these enterprises. Tian Lihui further said that with the promulgation and implementation of the new securities law and the deepening of the reform of the registration system, the responsibilities of various intermediary agencies such as recommendation agencies have been further increased. The enterprises to be declared must carefully and carefully select recommendation institutions. Under the registration system, the sponsor takes on the important gatekeeper responsibility, which is the first line of defense for the verification and professional inspection of the capital market. The enterprises to be listed should choose the sponsors and institutions that fulfill their duties to ensure the smooth progress of public offering and registration. Source of this article: Yang Qian, editor in charge of Securities Daily_ NF4425

In Tian Lihuis view, the suspension of audit of these six enterprises is not a return to the approval system, but the embodiment of the registration system. The key to the implementation of the registration system lies in professional sponsor institutions, but the sponsors of these six enterprises have been suspended by the CSRC. According to the relevant rules, the listing application hearing will be suspended. This is not a matter of the quality of the enterprises themselves, nor is it the result of the exercise of power by the exchange, but the problem of improper mate selection by these enterprises.

Tian Lihui further said that with the promulgation and implementation of the new securities law and the deepening of the reform of the registration system, the responsibilities of various intermediary agencies such as recommendation agencies have been further increased. The enterprises to be declared must carefully and carefully select recommendation institutions. Under the registration system, the sponsor takes on the important gatekeeper responsibility, which is the first line of defense for the verification and professional inspection of the capital market. The enterprises to be listed should choose the sponsors and institutions that fulfill their duties to ensure the smooth progress of public offering and registration.