Original title: Beijing Stock Exchange will provide investors with new wealth management opportunities
Our reporter Chang Xiaoyu
On October 23, Li Yongchun, deputy general manager of the Beijing Stock Exchange, gave clear answers at the “2021 Global Wealth Management Forum” on how to focus on building a good market ecology for the Beijing Stock Exchange and better meet the wealth management needs of investors. Li Yongchun said, “Exchange construction is a systematic project. We will resolutely implement the decisions and deployments of the Party Central Committee and the State Council. The Beijing Stock Exchange built by itself.”
Will provide investors with
New wealth management opportunities
At present, China has become the world’s second largest economy, with more than 40 million business entities, including more than 225,000 high-tech enterprises. The development stages and demand characteristics of enterprises are different, and the investment and financing needs are strong and diversified. Li Yongchun said that in this context, the establishment of the Beijing Stock Exchange on the basis of the NEEQ selected layer will further broaden the development path of the capital market for small and medium-sized enterprises, while also providing investors with new wealth management opportunities.
First, it is conducive to building a long-term, full-chain service system, and promoting SMEs to become familiar with and enter the capital market as soon as possible. The basic and innovative layers of the New Third Board and the Beijing Stock Exchange will form an institutional synergy, extend the capital market service chain, attract more innovative small and medium-sized enterprises to connect with the capital market, and provide more high-quality investment targets.
Second, it is conducive to the formation of resource aggregation effects and fostering a characteristic ecology surrounding the development of innovative small and medium-sized enterprises. The market brand effect of the Beijing Stock Exchange will guide various intermediaries and institutional investors to actively participate, consolidate the joint efforts of local governments, promote the formation of technology, innovation and capital agglomeration effects, and create a good environment for investor wealth management.
Third, it is conducive to strengthening the functions of resource allocation and wealth management, and creating opportunities for investors to share the development dividends of innovative SMEs. After the establishment of the Beijing Stock Exchange, the basic system is integrated with the various arrangements of the Exchange. Innovative small and medium-sized enterprises can conduct more efficient fund raising, mergers and acquisitions, and valuation and pricing on the Beijing Stock Exchange. The majority of investors can participate in the New Third Board and the Beijing Stock Exchange. Transactions can better share the development dividends of innovative SMEs.
Since the announcement of the establishment of the Beijing North Exchange, all parties in the market have responded positively, and the market effect has initially appeared. Li Yongchun introduced that as of September 30, the average daily turnover of the selected layer increased by 2 times, and the stock price increased by an average of 46.11%. Market vitality was stimulated. Driven by the selected layer, the average daily turnover of the innovation layer and the basic layer The stock price increased by 2.45 times and 45.83% respectively, reflecting the driving effect of the establishment of the Beijing Stock Exchange on the NEEQ.
Better satisfy investors
Wealth management needs
Li Yongchun said that in accordance with the overall deployment of reforms, the Beijing Stock Exchange will focus on serving small and medium-sized enterprises, firmly grasp the key to supporting innovation and development, always focus on the direction of building a “main position”, and adhere to the Shanghai and Shenzhen Stock Exchange, regional Equity market dislocation development and interconnection, adhere to the overall coordination and system linkage with the new third board innovation layer and basic layer, give full play to the role of “leading” leveraging and “feedback”, and lead the new third board innovation layer and basic layer to become stronger and stronger, and strive to build A good market ecology can better meet the wealth management needs of investors.
The first is “quality” on the enterprise side. Follow the statutory regulatory responsibilities of the exchange and vigorously improve the quality of listed companies. Implement the pilot registration system, adhere to the focus on information disclosure, control the market “entry gate”, guide issuers to “clarify”, supervise intermediaries to “verify clearly”, and ensure that investors “see clearly”. Implement the “zero tolerance” policy, severely crack down on various violations of laws and regulations, consolidate the “key subject responsibility”, and strengthen the endogenous motivation of listed companies to improve quality. Unblock the market “export customs”, and resolutely clear out companies in extreme circumstances such as major violations of the law and loss of sustainable business ability.
The second is “heavy protection” on the investment side. Actively guide all types of investors to participate and strengthen investor protection and services. Guide various types of funds, insurance companies, bank wealth management and other institutional investors to actively participate, create an investment culture and market atmosphere for long-term investment and rational investment, and activate and drive social capital to cultivate new economic impetus. Strengthen supervision and law enforcement, increase the cost of violations, maintain the “three public” order in the market, enhance investor trust and confidence, and enhance investors’ sense of gain. Continue to carry out targeted training and guidance, do a good job in rule analysis and risk disclosure, and guide investors to participate rationally.
The third is “heavy service” on the intermediary side. Further consolidate the responsibilities of intermediary agencies, focus on cultivating characteristic investment banks that are proficient in innovative SME services, and improve service levels. Guide securities firms and institutional investors to increase their investment and research capabilities in the NEEQ and Beijing Stock Exchange. Promote various intermediary agencies to improve their professional capabilities and compliance levels, urge them to return to their positions and fulfill their responsibilities, and better play the role of “gatekeepers” in the capital market.