CSRC: Improve the financing and M&A system, enhance the flexibility and convenience of equity and debt financing

Mars Finance News: The China Securities Regulatory Commission has issued the “Opinions on Deepening the Reform of the Growth Enterprise Market to Better Serve the Development of New Quality Productivity,” which states that the system for financing and mergers and acquisitions should be improved to enhance the flexibility and convenience of equity and debt financing. A refinancing reserve issuance system will be introduced. Simplified procedures for refinancing will be optimized. Support will be provided for high-quality innovative companies to flexibly set equity incentive assessment indicators. Support will be given to GEM companies to issue sci-tech innovation bonds, green bonds, and other products. Strengthen the entire process supervision to promote the improvement of listed company quality. Enhance regulation of initial public offering pricing. Continue to strictly prevent and punish financial fraud by listed companies, strengthen transparent supervision, and severely punish illegal activities such as fraudulent issuance and financial falsification. Strengthen classified supervision of listed companies. Improve and strictly implement delisting systems. Further reinforce the responsibilities of intermediary institutions as “gatekeepers” in the capital market.