The new financial policy releases a positive signal. Is the spring of textile “specialized, special and innovative” small and medium-sized enterprises coming?
In recent years, textile small and medium-sized enterprises have been facing problems such as rising production costs, difficult and expensive financing, and insufficient innovation and development capabilities. Recently, the “Guiding Opinions on Promoting the Healthy Development of Small and Medium-sized Enterprises” and the “Guiding Opinions on Accelerating the Cultivation and Development of High-Quality Manufacturing Enterprises” and other policies to support the innovative development of small and medium-sized enterprises have been introduced one after another, which has attracted widespread attention from enterprises in the textile industry. Yesterday, news came that the Beijing Stock Exchange would be established, which aroused widespread concern in the industry. New policies at the financial level have released positive signals to support the development of small and medium-sized enterprises. Textile people are looking forward to this. Is the spring of small and medium-sized enterprises taking the road of “specialization, specialization, innovation” coming?
A number of financial policies have been introduced
On September 2, President Xi Jinping delivered a video speech at the 2021 China International Fair for Trade in Services Global Services Trade Summit. While emphasizing that China will improve the level of openness, expand cooperation space, and strengthen the construction of rules in the service field, he said “Continue to support the innovative development of small and medium-sized enterprises, deepen the reform of the New Third Board, establish the Beijing Stock Exchange, and create a main position for serving innovative small and medium-sized enterprises.”
Just the day before, Premier Li Keqiang presided over an executive meeting of the State Council, at which it was planned to increase relief and assistance to market entities, especially small, medium and micro enterprises, strengthen policy reserves, and make cross-cyclical adjustments.
The meeting pointed out that to stabilize growth and maintain employment, the focus is on protecting market entities, especially small, medium and micro enterprises with large quantities and wide coverage. It was mentioned at the meeting that this year an additional 300 billion yuan will be added to the small-scale re-loan quota to support local corporate banks in issuing loans to small and micro enterprises and individual industrial and commercial households. Financial institutions are guided to carry out bill discounting and standardized bill financing, and the People’s Bank of China provides rediscount support to ease the pressure on small, medium and micro enterprises to obtain funds. Encourage local governments to introduce targeted support measures to reduce the pressure on small, medium and micro enterprises from rising costs.
Create a capital development platform for small and medium-sized enterprises
Regarding deepening the reform of the New Third Board and the establishment of the Beijing Stock Exchange, the relevant person in charge of the China Securities Regulatory Commission also said in response to reporters’ questions that in the future, they will coordinate the development layout of the multi-level capital market and promote the improvement of the capital market to serve the innovative development of small and medium-sized enterprises. The chain institutional system strives to create a professional development platform for the capital market that is in line with China’s national conditions and effectively serves specialized and new small and medium-sized enterprises.
It is reported that the main idea for the future construction of the Beijing Stock Exchange is to strictly abide by the Securities Law, follow the principle of step-by-step implementation and step-by-step, and generally translate the basic systems of the selected layer, and adhere to the principle of listed companies on the Beijing Stock Exchange. The emergence of innovative layer companies will maintain the “progressive” market structure of the New OTC Market’s basic layer, innovation layer and Beijing Stock Exchange, and simultaneously pilot the securities issuance registration system.
“This is a new major strategic deployment to better serve the capital market, build a new development pattern, and promote high quality development. It will further deepen the reform of the New Third Board and improve the The capital market points out the direction and provides guidance for the financial support system for small and medium-sized enterprises,” said a spokesman for the China Securities Regulatory Commission.
Regarding the details of the future establishment of the Beijing Stock Exchange, some private equity investors in Beijing believe that there is a high probability that a new stock exchange will not be established in the future. “Because currently, from a legal perspective, only three securities trading venues have been approved, namely the Shanghai and Shenzhen Stock Exchanges and the National Equities Exchange and Quotations. If a fourth one is to be established, it will need to be reviewed by the National People’s Congress and the State Council, which also means a longer preparation time. . So I guess upgrading on the basis of the New OTC Market is the most efficient way.”
Pang Ming, chief economist and chief strategist of China Renaissance Securities (Hong Kong), also told the 21st Century Business Herald reporter that after the National Equities Exchange and Quotations is upgraded to the Beijing Stock Exchange, it will become the successor to the Shanghai Stock Exchange. , the third national securities trading venue after the Shenzhen Stock Exchange, and has become an integral part of the multi-level capital market system.
Zhou Yunnan, founder of Beijing Nanshan Investment, even pointed out that the establishment of the future stock exchange will completely solve the market positioning and legal status issues of the New Third Board, and the New Third Board will finally truly upgrade from the “third securities trading venue in the country” to one An independent and open “stock exchange” will greatly enhance the service functions of the New Third Board, more efficiently support “specialized, special and innovative” small and medium-sized enterprises, and more accurately solve the financing difficulties of technological, entrepreneurial, growing, small and medium-sized enterprises and private enterprises. Expensive question.
Serving the innovation and development of small and medium-sized enterprises
“Small and medium-sized enterprises play an important role in promoting economic growth, promoting technological innovation, and increasing employment.” The relevant person in charge of the China Securities Regulatory Commission said that the capital market will always serve small and medium-sized enterprises Enterprise innovation and development is an important mission. In recent years, through continuous deepening of reforms and improvement of policies and systems, the quality and efficiency of serving the development of small and medium-sized enterprises have been continuously improved.
Deepening the reform of the New Third Board and establishing the Beijing Stock Exchange are important measures to implement the national innovation-driven development strategy and continue to cultivate new development momentum.The important content of optimizing the structural reform of the financial supply side and improving the multi-level capital market system is of great significance for better exerting the functions of the capital market, promoting the integration of technology and capital, and supporting the innovative development of small and medium-sized enterprises.
It is reported that in the future, the China Securities Regulatory Commission will, in accordance with the important instructions of General Secretary Xi Jinping, thoroughly implement the new development concept, adhere to the principle of seeking progress while maintaining stability, adhere to the direction of marketization and rule of law, coordinate the development layout of the multi-level capital market, and promote and improve capital The market serves the entire chain of institutional systems for the innovative development of small and medium-sized enterprises, and strives to create a capital market professional development platform that is in line with China’s national conditions and effectively serves specialized and innovative small and medium-sized enterprises, and strives to build a standardized, transparent, open, dynamic and resilient capital market. market to better serve the high-quality development of the real economy.
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