Pi Haizhou: Reducing Financing Costs Should Give Play To The Role Of New Three Boards

In this year's new three board market facing the expansion of the country's environment, the new three board market has achieved tremendous development. As of 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 this year. In addition, the new three board market not only introduced the market maker system in August this year, but also was preparing to launch a bidding transaction. It can be said that the new three board market has become an independent market which is different from the A share market, and has become an important part of China's multi-level capital market system.

Recently, two things related to the new three boards deserve our attention. The first thing is that in November 19th, the Shenzhen high tech fair's "innovation and entrepreneurship new engine Summit Forum", the relevant departments responsible person said that the SFC will accelerate the improvement of the new third board market trading mechanism and the transfer mechanism, and the Internet and technology innovation enterprises will be listed on the special board set up by the gem in the future. Although this is an old topic in recent years, this time it is revealed that "speed up" has pushed the new three board enterprises to the gem instead of staying at the previous "research" level.

The second thing is the 19 executive meeting of the State Council put forward ten measures to alleviate small and medium enterprises, small and micro enterprises "financing difficulties, financing expensive". Among them, sixth measures are to speed up the reform of stock issuing registration system, cancel the continuous profit conditions of stock issuance, and reduce the small and micro enterprises and innovative enterprises. list Threshold.

It is worth thinking about why we need to establish a transfer mechanism in the new three board market, so that the companies listed on the new third board will be listed on the gem. Is it possible that the new three board financing will not support the development of small and medium enterprises and small and micro enterprises? We should see that some of the top quality companies in the new three board market have been transferred to the new board market. A stock market How can the new three board market grow bigger and stronger?

To alleviate the difficulties of financing and financing of small and medium-sized enterprises and small and micro enterprises, it is time to give full play to the new three board market. 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 open the door is also open. 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 want to develop the new three board market, we should see the positive significance of the new three board market for alleviating 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, New three boards As an important part of China's multi-level capital market system, the market is an undeniable objective fact. It is also for this reason that the market participants, including management, should form a consensus that the listing in the new three board market is also a form of capital market support for the development of small and medium enterprises, and not only in the A share market, but in supporting the development of small and medium enterprises.