Growth enterprise market registration system (promoting innovation and entrepreneurship and promoting economic transformation and upgrading)

Growth enterprise market registration system: promoting innovation and entrepreneurship and promoting economic transformation and upgrading

In recent years, China's economic development has entered a new normal, and innovation and entrepreneurship have become an important force to promote economic transformation and upgrading. In order to further stimulate the vitality of innovation and entrepreneurship, the China Securities Regulatory Commission officially implemented the GEM registration system on March 1 2020. The introduction of GEM registration system has provided more convenient and flexible financing channels for innovative enterprises and injected new impetus into economic transformation and upgrading.

First, the background of the GEM registration system

In the past decades, China's economy has made great progress, but it also faces some structural contradictions and problems. The traditional stock issuance system has some problems such as long audit time and opaque audit standards, which makes it difficult for some excellent innovative enterprises to go public through IPO. In order to solve this problem, China Securities Regulatory Commission decided to launch the GEM registration system.

Second, the significance of the GEM registration system

The introduction of the GEM registration system means that China's capital market will pay more attention to the evaluation of the growth and innovation ability of enterprises, rather than just paying attention to the past profitability of enterprises. This will provide more fair and transparent financing opportunities for innovative enterprises, help optimize capital allocation and improve economic efficiency.

Third, the operation steps of the GEM registration system

1. Submission materials: Enterprises need to submit listing application materials, including basic information, financial statements, operating conditions, etc. The CSRC will conduct a preliminary examination based on these materials.

2. Review and feedback: The CSRC reviews the materials submitted by enterprises and gives feedback to enterprises according to the results of the review. Enterprises need to supplement materials or adjust plans according to feedback.

3. Review at the meeting: After the enterprise has passed the preliminary examination, it needs to participate in the review at the meeting. At the meeting, enterprises need to make a detailed introduction and defense to the CSRC.

4. Issuance and listing: The enterprise will pass the audit by the audit committee, and the CSRC will approve the enterprise to issue shares and list them on the Growth Enterprise Market.

Fourthly, the influence of GEM registration system.

The introduction of GEM registration system will have a positive impact on China's economic development;

1. Promote innovation and entrepreneurship: GEM registration system will provide more convenient and flexible financing channels for innovative enterprises, which will help stimulate the vitality of innovation and entrepreneurship.

2. Optimize capital allocation: GEM registration system will pay more attention to the evaluation of enterprise growth and innovation ability, which will help optimize capital allocation and improve resource utilization efficiency.

3. Promote economic transformation and upgrading: The introduction of GEM registration system will inject new impetus into economic transformation and upgrading, and promote China's economic transformation from traditional industries to high-end manufacturing and modern service industries.

Verb (abbreviation of verb) Prospect of GEM registration system

The introduction of GEM registration system is an important step in China's capital market reform, but it also faces some challenges. In the future development, we need to constantly improve the system and strengthen supervision to ensure that the GEM registration system can play a better role. At the same time, we also need to strengthen the cultivation and support of innovative enterprises and provide them with a better development environment.