On April 6, the Shanghai Stock Exchange held the “2022 Symposium on the Promotion of Industrial Bonds and Private Enterprise Bond Issuance by the Shanghai Stock Exchange”. The purpose of the meeting is to summarize the important experience and advanced practices of supporting the bond financing of industrial enterprises and private enterprises in the past, investigate and collect difficulties in the progress of related work, listen to opinions and suggestions on further promoting the issuance of industrial bonds and private enterprise bonds, and improve industrial enterprises and private enterprises. Bond financing support mechanism.
The relevant person in charge of the Corporate Bond Supervision Department of the China Securities Regulatory Commission said that in the face of the complex and severe external environment, it is even more necessary for all parties in the market to further exert joint efforts, give full play to the financing function of the bond market, and guide funds to increase support for real industries and private enterprises. , to help solve the financing problems of industrial enterprises and private enterprises, help enterprises to expand financing channels, and help stabilize the macroeconomic market.
At the meeting, the Shanghai Stock Exchange introduced its recent work in supporting the bond financing of industrial enterprises and private enterprises, and said that serving the real economy, industrial enterprises and private enterprises is the mission of the bond market of the Shanghai Stock Exchange. At present, the Shanghai Stock Exchange has established a special work promotion group for industrial bonds and private enterprise bonds, focusing on connecting the two ends of investment and financing, promoting the development of innovative products, improving the quality of information disclosure, improving the construction of the secondary market, and enriching risk management tools. and private enterprise bond financing channels.
Shandong, Guangdong and Zhejiang securities regulatory bureaus introduced the issuance of industrial bonds and private enterprise bonds in their respective jurisdictions. Regarding the financing difficulties of industrial enterprises and private enterprises, it is suggested that on the one hand, securities companies should be encouraged to increase investment in business related to industrial bonds and private enterprise bonds. High-quality private listed companies can be the starting point to form a stock-debt linkage within securities companies, focusing on strategic emerging industries, advanced manufacturing and other industries to issue corporate bonds; on the other hand, increase publicity and promotion, and encourage industrial enterprises and private enterprises to issue corporate bonds Innovative varieties such as science and technology bonds and green bonds reduce financing costs.
CITIC Securities, CICC and Guotai Junan delivered speeches on behalf of participating securities companies. They suggested that regulators should increase the guidance of various market participants, enrich the types of investment institutions, and take the lead in building a communication platform between issuers and investors; research and launch scientific and technological innovation bonds, high-growth bonds, high-yield bonds and other suitable industries and enterprises. Innovative varieties with the characteristics of private enterprises, and promote the issuance of short-term debt and exchangeable bonds; improve the credit enhancement mechanism, develop policy-based guarantee institutions, support enterprises to use carbon emission indicators, franchise rights and other intangible assets for pledge credit enhancement, and launch portfolio credit Protection contracts further promote the development of credit protection tools.
The reporter learned that the Shanghai Stock Exchange will actively play the role of market organizer, guide market players to change their concepts, mobilize the enthusiasm of all parties, work together to improve the bond financing support mechanism for industrial enterprises and private enterprises, create a market atmosphere that meets the reasonable financing needs of enterprises, and cooperate with all parties to promote High-quality development of industrial enterprises and private enterprises. (Our reporter Wu Xiaolu and trainee reporter Guo Jichuan)