Tianjin Gold Reform And Innovation 3 Year Action Plan To Let Enterprises Listed As "Normal"

To promote financial reform and innovation in Tianjin FTA pilot area, the general office of Tianjin Municipal People's government issued the circular on the three year action plan for financial reform and innovation (2016-2018 years) formulated by Tianjin Municipal Finance Bureau.

According to the plan of action, by the end of 2018, the listed companies in Tianjin and the "new three board" listed companies had broken through 300, and the asset securitization rate of the municipal competitive state enterprises reached 40%.

Market participants analysis, following the Shanghai Free Trade Zone launched a series of financial reform and innovation measures, Tianjin formulated the financial reform and innovation three year action plan, indicating that the FTA financial reform and innovation speed up.

Huang Xingguo, acting secretary and mayor of Tianjin Municipal Committee, said on 13 th that three year plan of action should be carried out to accelerate the construction of the financial innovation and operation demonstration zone, so as to make greater contributions to achieve the goal of "13th Five-Year".

Efforts should be made to strengthen the listing of enterprises, comprehensively explore the resources of enterprises, solve existing problems, improve the working mechanism, strengthen training and counselling, make clear timetables, roadmaps and responsible persons to ensure or exceed the target tasks.

We should do a good job in the debt replacement of the government financing platform, and promptly complete the supporting work of major projects, achieve the conditions of approval and reporting, and promote the landing of special funds as soon as possible, and be good at making good use of offshore funds and giving full play to the advantages of the free trade area.

In proposing financial reform and innovation policy, the action plan clarified the timetable for policy advancement.

The plan of action proposed that enterprises and financial institutions in the FTA should gradually expand the scale of borrowing renminbi funds from abroad.

It supports the issuance of RMB bonds by enterprises and financial institutions in the FTA pilot area, and the fund-raising funds can be pferred back to the region for use.

To support the issuance of RMB bonds by overseas parent companies or subsidiaries in the FTA pilot area, and raise funds to be used at home and abroad as required, creating conditions for the renminbi to "go out".

We should gradually relax the foreign exchange control of foreign investment.

It supports the overseas investment of equity investment funds in the FTA pilot area.

We encourage foreign equity investment and venture capital management institutions to initiate the management of RMB equity investment and venture capital funds.

Insurance agencies are allowed to conduct pilot projects in overseas investment.

At the end of 2016, the above policies fell and continued to advance.

We will promote cross-border brokerage, cross-border asset management and other businesses in Securities and futures institutions in the FTA.

Expand the futures bonded delivery pilot varieties and warehouse receipt pledge financing function.

Support overseas enterprises to participate in specific futures trading through FTA.

The policy came into operation at the end of 2018.

It supports the two-way investment of qualified investors in the domestic and foreign securities and futures markets in the FTA.

At the end of 2017, the policy fell to the ground and continued to advance.

By the end of 2018, Tianjin had crossed the border.

The scale of settlement exceeds 1 trillion and 700 billion yuan.

We accelerated the convertibility of capital account and reached the leading level in the world in terms of financial internationalization.

In the aspect of new financial formats, the end of 2016 completed the docking of the equity financing platform and the equity trading market, and accelerated the study of policies and measures to support the development of Internet finance, and accelerated the establishment of the Internet Finance Association. It supported the leasing companies to make use of the policy and development of the FTA, innovating cooperation models with various financial services institutions, expanding financing channels, and landing at the end of 2016 and continuing to push forward; and actively striving to set up an Internet insurance company, which was completed by the end of 2017; supported the establishment of a financial leasing industry fund and a financing lease equity investment fund, which was completed by the end of 2018.

Vigorously develop

It is an important part of the action plan for the past three years.

The plan of action puts forward that we should make full use of multi-level capital markets at home and abroad to promote more enterprises to list and list in Tianjin.

We should standardize the development of equity investment institutions, promote new financing tools, and gradually raise the level of asset securitization.

By the end of 2018, the number of Listed Companies in Tianjin and the "new three board" listed companies had exceeded 300, and the asset securitization ratio of municipal competitive state-owned enterprises had reached 40%.

Standardize the development of equity investment institutions.

We should develop industry guidance fund and merger fund to promote the pformation and upgrading of key industries.

Support angel investment, venture capital, equity investment and other institutions to boost enterprises.

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We should further improve the equity investment support policy and optimize the development environment.

We should enhance the management and service level of the fund, strengthen self-discipline and standardize the development of the industry.

Speed up enterprise listing and listing financing.

We should implement the policies of the city to support the listing and listing of enterprises, and promote all kinds of enterprises to accelerate pformation and upgrading, technological pformation and technological innovation with capital markets.

We should improve the reserve mechanism for the cultivation of enterprises' listed resources, guide and support enterprises to speed up the reform of the stock system and enrich the reserve resource bank of the listed companies.

Support technology SMEs, especially small technology giants to accelerate listing and listing.

Support state-owned enterprises to highlight the main business, through mergers and acquisitions to achieve the overall listing.

To support the listing and listing of leading enterprises in the industry, to achieve resource integration through the capital market, and to enhance core competitiveness.

It supports the listing and listing enterprises to refinance by issuing shares and issuing corporate bonds.