DDN Bussiness Insider | STAR Market reform takes flight: CSRC unveils eight measures to boost technology innovation and industrial upgrading
At last week's Lujiazui Forum in Shanghai, the China Securities Regulatory Commission (CSRC) Chairman Wu Qing announced that the CSRC will issue eight measures to deepen the reform of the STAR Market.
The release of the "Eight Measures for STAR Market" marks a new stage in the reform of the STAR Market. Ren Libo, founder and president of Beijing Yuanda Investment Co., Ltd. and a well-known investor, believes that the "Eight Measures for STAR Market" will help drive technological innovation and industrial upgrading and will also focus on optimizing the institutional design of the segment, further enhancing its attractiveness and competitiveness.
Peng Wenyu, chief analyst of IPO strategy research at Shenwan Hongyuan, said the purpose of launching the "Eight Measures for STAR Market" is to serve better technological innovation and the development of new productive forces, which is a new adjustment made based on macroeconomic and market environment changes.
Peng Wenyu pointed out that the "Eight Measures for STAR Market" this time, such as strict prevention of high pricing, the establishment of a professional investor whitelist system, and the introduction of a refinancing shelf offering mechanism, can effectively solve the problems that arose during the previous development of the STAR Market and are worth looking forward to by the market.
In addition, at the forum, the remarks of Pan Gongsheng, Governor of the People's Bank of China, have raised market concerns about the slowdown in monetary and credit growth. Ren Libo pointed out that the slowdown in monetary and credit growth is related to factors such as the optimization and upgrading of economic structure, changes in the investment and consumption willingness of enterprises and individuals, and the impact of the external market environment on investment decisions, and should be treated objectively.
The International Monetary Fund (IMF) has established a regional center in Shanghai. At the same time, the CSRC will work with the Shanghai municipal government to establish a collaborative work mechanism to support Shanghai's accelerated construction of the "Five Centers". Ren Libo emphasized that in positioning an "international financial center", Hong Kong should play the role of a bridge for the global capital market and achieve differentiated development with Shanghai.
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