Yesterday, March, 20, the sponsoring institutions co-chaired meeting sponsored by Shenzhen Stock Exchange was held in Yangling, Xi’an. The meeting with the theme on pushing forward the innovation of sponsoring service ideas and supporting the development of enterprises involved in three rural issues and China western economy, discussed the further play of the ability of the capital market to resources mobilization and innovation, strengthening the cultivation and sponsoring work relating to small-medium enterprises in western China, carrying forward the implementation of great western China development strategy. At the meeting, the special research seminar was also set up as regards modern agriculture, venture capital and capital market.
At present, the whole society of China still faces the serious challenges of three rural issues and agriculture industrialization even though Chinaurbanization has more than 50 percent rate. The transformation from traditional agriculture to modern agriculture heavily relies on technology and capital. In recent years, the link-up between the western development and capital market had made significant achievements. Up to March 18, 2012, 187 companies from 12 provinces in western China had been listed on Shenzhen Stock Exchange, 62 companies listed on SME board and 25 floated on ChiNext board, most companies listed in the last five years. The west China enterprises have showed the fast-growing trend, but it is also evident that the capital market service to the western region is lagging behind with many demands for service insufficiently satisfied.
Considering the reality, the attendants expressed that the sponsoring institutions shall heighten the opportunity and responsibility awareness, fully getting the hold of potential development room for three-rural enterprises and meager enterprises, catching the most favorable historical opportunity in the development of capital market. The meeting also noted that it shall strengthen the tolerance of the multi-layer market, lower the bar for entry into the ChiNext board, help the high-quality small and medium banks to get listed, push forward the innovation of products serving the small, medium and meager enterprises and make the study on issue of certain enterprise bonds; meanwhile, the meeting also put forward that it shall make the all-ranging upgrade on the transparency of the multi-layer market and increase the market credibility. During the meeting, the 2011 award ceremony for excellent sponsoring institutions was held.
The meeting was hosted by Western Securities Co., Ltd., with the help of Shaanxi Securities Regulatory Bureau under the CSRC, Shaanxi Financial Office and other departments. Chen Dongzheng, SZSE council chairman, Zhu Congjiu, CSRC chairman assistant, Qin Zheng, Shaanxi People’s Government secretary-general, Song Liping, SZSE general manager and other officials attended the meeting, respectively giving the speech; and Chen, Hongqiao, SZSE deputy general manager presided over the meeting. More than 300 people including local government, sponsoring institutions, venture capital and etc, were present at the meeting.
