The SFC Has Done A Good Job In Perfecting The IPO System And Delisting System.

Guo Shuqing, chairman of the China Securities Regulatory Commission, said in an interview yesterday at the five meeting of the eleven National People's Congress that the SFC has done a sound and sound job. ipo System and delisting system related work arrangements.

Guo Shuqing said, the gem delisting system is about to be formally implemented. As for the new delisting system of the main board, we should consider whether the views of all parties are unified. For the first half of the year, whether the new delisting system proposed by reporters could be launched? He replied, "very likely." "Is it possible for the pensions to enter the market this year?" Guo Shuqing answered. "The Ministry of human resources and social security has said that we only cooperate and provide services."

On the issue of private debt raised by SMEs in the market, Guo Shuqing said relevant work is under study. He stressed that the introduction of the plan depends on the formulation of the plan and may require pilot projects, but the SFC will strive to complete the work in the first half of this year. In addition, he also revealed that the SFC is actively promoting the expansion of the new three boards.

Guo Shuqing affirmed the role of news media in promoting investor protection. He said that the capital market is an open, fair and fair market, and publicity is the first. I hope you will continue to support the work of the capital market and work together to believe that China's capital market will become better and better.

Guo Shuqing pointed out that, in general, ipo The price is very high. Last year, the average price earnings ratio reached 47 times, while the market level was only 17 times. Judging from the performance of new shares over the past two years, stock prices tend to show a downward trend when the issue price is too high. This pattern is of no benefit to investors. To this end, Guo Shuqing reminded investors not to blindly participate in speculation, especially the first day of speculation. In regard to investor protection, Guo Shuqing pointed out that we should strengthen the risk disclosure and classification of various types of products in the multi-level market, gradually establish an investor suitability system, guide investors to assess carefully and participate rationally, so as to ensure that the right products are sold to suitable investors.

In the report on the work of the government, we should improve and perfect the IPO system. Delisting "The system," Guo Shuqing said, the Securities Regulatory Commission has done a good job arrangement. Earlier, when Guo Shuqing spoke with the people's daily, he said that deepening the marketization reform of the issuance system was a key task of the national financial work conference at the beginning of the year. In the near future, we will focus on improving the pricing mechanism by restraining the buyer's pricing constraints, increasing the pricing responsibility of the Underwriters, enhancing the liquidity of the stock market, and strengthening the supervision of the pricing behavior. In the long run, we must continue to strengthen the quality of information disclosure.