Original title: Newly look forward to new vitality of the transfer mechanism
● Our reporter Zan Xiuli
The first anniversary of the opening of the NEEQ Featured Floor. After the reform, the market positioning of the NEEQ has been further clarified, the characteristics of dislocation and tolerance have been strengthened, and the adaptability of the market system and the services of the NEEQ will be further improved. The new expectation after reaching the age is that the transfer system has entered the practical stage, and the transfer of the first batch of selected companies will soon begin. This will undoubtedly strengthen the hub function of the NEEQ connecting exchange markets and downstream regional equity markets, and smooth the internal connections of the multi-level capital market.
Move the whole body. The transfer mechanism is an important fulcrum for the smooth interconnection of multi-level capital markets. From the perspective of the multi-level capital market, as the biggest innovation of the NEEQ reform, the transfer listing mechanism can connect the exchange market upward and the regional equity market downward. The convergence of the NEEQ will increase the gold content of the “multi-level” system of the capital market. , Strengthen the internal flow of the tower base and spire. From the perspective of the internal stratification of the New Third Board, the transfer system is combined with the layered mechanism of “selected layer, innovation layer, and basic layer”. The basic layer focuses on standardization, the innovation layer focuses on cultivation, and the selected layer is aligned with the exchange market. The layer mechanism is connected in an orderly manner. The refined layering and transfer mechanism can better stimulate the leading function of the selected layer, drive the coordinated development of the innovation layer and the basic layer, and build a market structure that is connected from top to bottom. It is conducive to stimulating market vitality through the transmission mechanism and forming a match for both investment and financing. A good market ecology of demand can better serve the echelon growth of small and medium-sized enterprises.
The transfer mechanism is conducive to promoting the high-quality development of companies listed on the NEEQ. On the one hand, the selection layer and the transfer listing system are in line with the exchange market in terms of trading rules, liquidity levels, and company supervision. After the selection layer companies are sponsored by public offerings, they will standardize corporate governance and information for the listed companies after entering the layer. Disclosure is conducive to improving the company’s awareness of compliance operations and the level of standardized operations. For example, in terms of corporate governance, select-level companies have formulated various systems of standardized operation with the company’s articles of association as the core in accordance with the requirements of the rules, and hired a total of 139 independent directors. (The next version is A03)
.