Shaanxi Province Releases 2023 List of Provincial Listed Reserve Enterprises
Shaanxi Province in China recently released the list of provincial-level listed companies for the year 2023. The announcement was made by the Local Financial Supervision and Administration Bureau of Shaanxi Province in collaboration with several other regulatory bodies and exchanges including the Shaanxi Securities Regulatory Bureau, the Shaanxi Provincial Department of Finance, the Shaanxi Provincial Development and Reform Commission, the Shaanxi Provincial Department of Science and Technology, and the Shaanxi Provincial Department of Industry and Information Technology, as well as the Shanghai, Shenzhen, and North Exchanges.
In 2021, the Shaanxi Provincial Local Financial Supervision Bureau and other relevant departments unveiled 300 provincial-level listed backup companies for the first time. Following this, in 2022, they jointly released and managed 360 provincial-level listed backup enterprises. A strategic cooperation agreement was also signed with 18 banks in two years, providing a total of 153.5 billion yuan of overall credit for backup enterprises.
Among the 360 companies announced in 2022, 14 companies have already passed the meeting or went public, while another 24 companies are in the review and counseling process.
This year, a total of 1,194 enterprises applied for evaluation, representing an increase of 265 compared to the previous year. The Local Financial Supervision Bureau of Shaanxi Province adhered to the principle of selecting the best from the best and conducted a selection and review of 438 companies. Out of these, 313 were designated as provincial listed backup companies for 2022, resulting in a retention rate of 87%. Among the 438 listed reserve companies, there are 60 A-level companies, 120 B-level companies, and 258 C-level companies.
In order to incentivize provincial-level listed backup companies, the Local Financial Supervision Bureau of Shaanxi Province, in conjunction with the Shaanxi Provincial Department of Finance, introduced incentive measures and rewards for newly-rated A and B-level provincial-level listed backup companies each year. This is aimed at ensuring that these companies have a greater sense of accomplishment.
Furthermore, the “Shaanxi Provincial Financial Development Special Fund Management Measures” state that companies successfully listed on the Shanghai, Shenzhen, and North Exchanges, as well as the Hong Kong Stock Exchange, will be rewarded with a one-time sum of 5 million yuan.
In recent years, the Local Financial Supervision Bureau of Shaanxi Province has collaborated with relevant departments to introduce policies and platforms that promote the development of enterprise listing and the private equity investment industry. This has made the market’s service organization more comprehensive.
The bureau has also launched the 2023 capital market talent introduction and cultivation plan, which aims to provide a strong talent foundation for the development of the capital market. Additionally, they are working on the “2023 Capital Market Support Enterprise Service and Work Style Capability Improvement Annual Activity Plan”, conducting visits and research activities for provincial listed backup companies, and addressing any difficulties and obstacles faced by these companies during the listing process. These initiatives will help improve the compliance awareness and capital market operation capabilities of listed backup companies.
Source: Securities Daily
Author: Yin Gaofeng
Please note that the content published here is intended to provide information and does not constitute investment advice. Individuals should proceed according to their own discretion and at their own risk.