How To Ease China'S IPO "Barrier Lake"?

The website of the China Securities Regulatory Commission (CSRC) on September 26th disclosed the latest issuance process of the IPO and the application for enterprises.

According to the data, as of September 25th, the CSRC accepted 620 starting enterprises.

Among them, there were 30, but not 590.

430 enterprises that normally fail to be heard in the enterprise have not been passed, and 160 enterprises have been discontinued.

A large number of enterprises are still suffering from unpredictable queues.

Confined to the previous accusation of money, the IPO lockout of Chinese enterprises was restarted for 15 months in January this year, thus queuing up and dying. A number of enterprises turned to overseas listing.

Secondly, as the root cause of the IPO suspension at the end of 2012 is the counterfeiting of some listed companies, the SFC will conduct a financial verification of the listed companies to declare materials and push them back.

Three, because of the long queuing this year, the financial data is out of date.

The four is the pre disclosure and then frighten the death of a group, and now let the vast majority of enterprises do.

The unpredictable IPO has undoubtedly disrupted the business.

The planned arrangement led to a large number of enterprises to raise funds overseas.

During the three period of overlay, commercial banks are reluctant to lend because of high risks. Enterprises urgently need to repair their balance sheets through equity financing to undertake mergers and acquisitions and asset restructuring to promote pformation and upgrading. However, the lagging capital market reform has undoubtedly dragged on, resulting in the huge development fever this year.

The industrial M & A is not supported by the capital market.

In fact, there are still more than ten stocks a month, compared with China's huge business groups.

The reform of the capital market has continued the practice of previous reforms. It is not a mess or a death, resulting in the continuous accumulation of the entropy of the system.

Chinese Enterprises

The "barrier lake" is constantly accumulating under the conservative policy of IPO's reopening reform.

The lack of innovation in the legal, policy and institutional systems has forced many Chinese enterprises to turn to overseas financing, resulting in the failure of China's capital [-2.27%] to enjoy the fruits of their own business development and the prosperity and development of China's capital market.

Actively relaxing the IPO with the core of small and medium enterprises will only be a creative destruction to the multi-level capital market, and will achieve the goal of ecological evolution.