The Threshold For Gem Is Not "Letting Go".

Prior to "P", the SFC issued regulatory questions and answers, recommended that enterprises should reasonably grasp the declaration time, and encourage enterprises to develop financing through other three ways, such as listing new three boards and listing overseas.

Market participants interpreted it as < a href= "//www.sjfzxm.com/news/index_cj.asp" > IPO < /a > the declaration window was closed again.

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< p > "this is only a suggestion made by the SFC for the concerns of the market. It is not mandatory and does not mean that the IPO declaration window is closed."

Zhang Xiaojun said.

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< p >, he said, the SFC only reminds the issuers and sponsors to take into consideration the special circumstances of the current stage, prudently co-ordinate, rationally choose financing places, and make full use of multi-level capital markets to solve the financing problems through multiple channels, so as to avoid Overfocusing on already congested initial channels and affecting the development process of the company.

For the proposed initial financing, it is recommended that the declaration time be reasonably grasped so as to avoid increasing the cost and burden of the enterprise.

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< p > on the market to reduce the threshold of gem will lead to "big drain" concerns, Zhang Xiaojun said, gem reform measures, appropriately reduce the financial admittance index, does not mean that the GEM market "drain".

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< p > he said that, on the one hand, appropriately reducing the "a" href= "//www.sjfzxm.com/news/index_cj.asp" > the financial access index < /a >, is also right to the market, and is judged by investors. It is an important step to push forward the stock registration registration system and promote the market to play a decisive role in the allocation of resources. On the other hand, the appropriate reduction of financial access indicators does not mean deregulation. The regulatory authorities will focus on information disclosure, strengthen supervision afterwards, and urge intermediaries to work diligently and conscientiously to protect the legitimate rights and interests of investors.

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< p > < < a href= > //www.sjfzxm.com/news/index_cj.asp > > Shanghai and Hong Kong > < /a > > QFII, QDII and RQFII. Zhang Xiaojun said that the Shanghai and Hong Kong exchanges are based on the two exchanges as a carrier to establish market connections with each other, to route orders, so as to achieve cross market investment. QFII and so on take Asset Management Co as a carrier to invest funds through issuing financial products to investors.

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< p > in terms of trading currency, Shanghai and Hong Kong only use Renminbi as trading currency, investors must invest in Renminbi, and QFII investors invest in foreign currencies such as US dollars.

In addition, cross border capital management methods are different. Shanghai and Hong Kong can manage the funds through closed path management. The funds obtained from the sale of securities must return along the original path, and can not be left in the local market. The funds for QFII trading and other securities can be retained in the local market.

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< p > Zhang Xiaojun said that the pilot mechanism for the stock exchange interconnection mechanism has not been included in the Shenzhen Stock Exchange. The main consideration is that the Shanghai and Hong Kong exchanges are more prudent in the early stage of the launch of the mechanism, while the market valuation level of Shanghai and Hongkong is relatively close. Shanghai and Hong Kong have a relatively small impact on the valuation level of the two market, which is conducive to the smooth start of the pilot.

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