Pi Haizhou: Don'T Take The New Three Boards Improper Market.

The new three board market is a natural stock market.

However, in the two matters that occurred recently in the development of the new three board market, the management departments had not considered the new three board market as a stock market.

The first thing is that in November 19th, the Shenzhen high tech fair's "innovation and entrepreneurship new engine Summit Forum", Liu Jianjun, deputy director of the supervision department of the securities and Futures Commission, said that the SFC will accelerate the improvement of the new three board trading mechanism and the pfer mechanism. In the future, Internet and technology innovation enterprises can be listed on the special board set up by the gem.

Although this is a commonplace topic in recent years, this time it reveals that it is "accelerating" to push the new three board enterprises to the gem instead of staying at the previous "research" level.

The second thing is the ten measures proposed by the Executive Council of the State Council on 19 days to alleviate the "financing difficulties and financing" of small and medium-sized enterprises and small and micro enterprises.

Among the sixth measures, we should pay close attention to the reform of stock issuance registration system, cancel the continuous profit conditions of stock issuance, and reduce the threshold for listing small and micro enterprises and innovative enterprises.

These are two things that overlap in content.

But the biggest difference is that they didn't take the new three boards as the stock market.

It should be said that the new three board market has made great progress this year in the new three board market facing the expansion of the whole country.

By the end of October, the number of new three board listed company increased from 350 at the end of last year to 1232, and nearly 900 new ones. According to the current listing efficiency, the three new board companies will break through 1500 houses this year.

Moreover, in order to activate the new three board market, the new three board market not only introduced the market maker system in August this year, but also was preparing to launch a bidding paction on the new third board.

It can be said that the current three new board market has become a difference.

The independent market outside the market has become an important part of China's multi-level capital market system.

But it is confusing why we should be there.

Does the market establish a pfer mechanism to allow enterprises to pfer the new board to the growth enterprise market? Is it possible to support the development of small and medium enterprises and small and micro enterprises in the new three board financing? Is it only to support the development of small and medium enterprises and small and micro enterprises by listing on the gem? And by pferring the board mechanism, some quality companies in the new three board market are pferred to the A share market.

How can we become bigger and stronger? Therefore, if we take the new three board market as an independent market, we should not set up a pfer mechanism when the stock market looks at it.

The new three board market has no obligation to pfer its excellent companies to the gem, which is just as NASDAQ has no obligation to pfer its listed companies to the NYSE.

In fact, it is time to play the role of the new three board market in alleviating the problem of "financing difficulties and financing expensive" of small and medium-sized enterprises and small and micro enterprises.

After all, the new three board market has no profit requirements for the listing of small and medium-sized enterprises and small and micro enterprises.

It can be said that the new three board market is a well deserved main force in alleviating the problem of "financing difficulties and financing expensive" of small and medium-sized enterprises and small and micro enterprises.

And the new three board market for small and medium enterprises, small and micro enterprises to come to the list is also open.

Under such circumstances, management really does not need to emphasize repeatedly on the gem to reduce the threshold of small and micro enterprises and innovative enterprises.

After all, it is to reduce the listing threshold of small and micro enterprises and innovative enterprises, and the small and innovative enterprises that can go to the gem are limited.

To alleviate the heavy responsibility of small and medium-sized enterprises and small and micro enterprises, the problem of "financing difficulties and financing" will eventually fall on the new three board market.

Therefore, if we take the new three board market as the stock market, we should see the positive significance of the new three board market to alleviate the financing problems of small and medium-sized enterprises and small and micro enterprises, instead of focusing solely on the growth enterprise market.

In fact, the new three board market is an important part of China's multi-level capital market system, which is an undeniable objective fact.

It is also for this reason that it is necessary not to take the new three boards as improper as the stock market.

There should be a consensus among the market participants including management, that is, listing in the new three board market is also a manifestation of the support of the capital market to the development of small and medium-sized enterprises. Instead of only A share listing is to support the development of small and medium-sized enterprises, otherwise, what is the development of the multi-level capital market system in China's capital market?