China-STAR Market/New Measures

China openly seeks advice to better support sci-tech innovation board

  • English

Shotlist


FILE: Beijing, China - July 26, 2019 (CCTV - No access Chinese mainland)
1. Various of signboard of China Securities Regulatory Commission

Beijing, China - Nov 4, 2019 (CCTV - No access Chinese mainland)
2. Business hall of China Galaxy Securities
3. Sign reading "China Galaxy Securities"
4. Various of investor at counter
5. Various of brochures about STAR market

Beijing, China - Nov 8, 2019 (CCTV - No access Chinese mainland)
6. SOUNDBITE (Chinese) Chang Depeng, spokesman, CSRC:
"First, we will minimize the review and registration period of the regulatory authorities. The review period of the Shanghai Stock Exchange will be two months, and the CSRC registration period will be 15 working days. Second, the Shanghai Stock Exchange is authorized to study and formulate business rules for micro-financing, based on the overall re-financing situation of the STAR market and the actual needs of the market."

FILE: Shanghai Municipality, east China - Date Unknown (CCTV - No access Chinese mainland)
7. Various of screen showing stocks information, investors

Beijing, China - Nov 8, 2019 (CCTV - No access Chinese mainland)
8. SOUNDBITE (Chinese) Chang Depeng, spokesman, CSRC:
"The locking periods will be shortened to 18 months and six months respectively, from the current 36 months and 12 months. Also it will not be affected by the restrictions on the stock-selling by shareholders."

FILE: Shanghai Municipality, east China - July 22, 2019 (Pool - No access Chinese mainland)
9. Various of Shanghai Stock Exchange sci-tech innovation board (SSE STAR Market) launching ceremony in progress

FILE: Shanghai, east China - Exact Date Unknown (CCTV - No access Chinese mainland)
10. Various of staff members working at Shanghai Stock Exchange

Storyline


The China Securities Regulatory Commission (CSRC) held a press briefing on Friday to openly seek advice on a new regulation on security registration and issuance of sci-tech innovation board (STAR market) companies.

The commission mainly seeks advice on the following measures: setting basic issuance conditions to regulate the refinancing behavior of listed companies, so as to effectively protect the legitimate rights of investors and the interests of the general public; supporting listed companies to introduce strategic investors, so as to improve efficiency of non-public issuance; setting efficient registration procedures to improve financing efficiency, and shorten the time for regulatory review.

"First, we will minimize the review and registration period of the regulatory authorities. The review period of the Shanghai Stock Exchange will be two months, and the CSRC registration period will be 15 working days. Second, the Shanghai Stock Exchange is authorized to study and formulate business rules for micro-financing, based on the overall re-financing situation of the STAR market and the actual needs of the market," said Chang Depeng, spokesman of the commission.

The commission also announced that restrictions on the refinancing of Growth Enterprise Market will be comprehensively eased. Measures include canceling some restrictions for the public issuance of securities, and supporting listed companies to introduce strategic investors. In addition, it will also adjust the pricing and locking mechanism for non-public offering of stocks.

"The locking periods will be shortened to 18 months and six months respectively, from the current 36 months and 12 months. Also it will not be affected by the restrictions on the stock-selling by shareholders," said Chang.

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  • ID : 8126751
  • Published : 2019-11-09 17:32
  • Last Modified : 2019-11-09 17:34:18
  • Location : Beijing,China
  • Category : economy, business and finance
  • Duration : 1'46
  • Audio Language : Chinese/Nats
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Version : 1

China-STAR Market/New Measures

China openly seeks advice to better support sci-tech innovation board

Dateline : Nov 8/4, 2019/File

Location : Beijing,China

Duration : 1'46

  • English


FILE: Beijing, China - July 26, 2019 (CCTV - No access Chinese mainland)
1. Various of signboard of China Securities Regulatory Commission

Beijing, China - Nov 4, 2019 (CCTV - No access Chinese mainland)
2. Business hall of China Galaxy Securities
3. Sign reading "China Galaxy Securities"
4. Various of investor at counter
5. Various of brochures about STAR market

Beijing, China - Nov 8, 2019 (CCTV - No access Chinese mainland)
6. SOUNDBITE (Chinese) Chang Depeng, spokesman, CSRC:
"First, we will minimize the review and registration period of the regulatory authorities. The review period of the Shanghai Stock Exchange will be two months, and the CSRC registration period will be 15 working days. Second, the Shanghai Stock Exchange is authorized to study and formulate business rules for micro-financing, based on the overall re-financing situation of the STAR market and the actual needs of the market."

FILE: Shanghai Municipality, east China - Date Unknown (CCTV - No access Chinese mainland)
7. Various of screen showing stocks information, investors

Beijing, China - Nov 8, 2019 (CCTV - No access Chinese mainland)
8. SOUNDBITE (Chinese) Chang Depeng, spokesman, CSRC:
"The locking periods will be shortened to 18 months and six months respectively, from the current 36 months and 12 months. Also it will not be affected by the restrictions on the stock-selling by shareholders."

FILE: Shanghai Municipality, east China - July 22, 2019 (Pool - No access Chinese mainland)
9. Various of Shanghai Stock Exchange sci-tech innovation board (SSE STAR Market) launching ceremony in progress

FILE: Shanghai, east China - Exact Date Unknown (CCTV - No access Chinese mainland)
10. Various of staff members working at Shanghai Stock Exchange


The China Securities Regulatory Commission (CSRC) held a press briefing on Friday to openly seek advice on a new regulation on security registration and issuance of sci-tech innovation board (STAR market) companies.

The commission mainly seeks advice on the following measures: setting basic issuance conditions to regulate the refinancing behavior of listed companies, so as to effectively protect the legitimate rights of investors and the interests of the general public; supporting listed companies to introduce strategic investors, so as to improve efficiency of non-public issuance; setting efficient registration procedures to improve financing efficiency, and shorten the time for regulatory review.

"First, we will minimize the review and registration period of the regulatory authorities. The review period of the Shanghai Stock Exchange will be two months, and the CSRC registration period will be 15 working days. Second, the Shanghai Stock Exchange is authorized to study and formulate business rules for micro-financing, based on the overall re-financing situation of the STAR market and the actual needs of the market," said Chang Depeng, spokesman of the commission.

The commission also announced that restrictions on the refinancing of Growth Enterprise Market will be comprehensively eased. Measures include canceling some restrictions for the public issuance of securities, and supporting listed companies to introduce strategic investors. In addition, it will also adjust the pricing and locking mechanism for non-public offering of stocks.

"The locking periods will be shortened to 18 months and six months respectively, from the current 36 months and 12 months. Also it will not be affected by the restrictions on the stock-selling by shareholders," said Chang.

ID : 8126751

Published : 2019-11-09 17:32

Last Modified : 2019-11-09 17:34:18

Source : China Central Television (CCTV)

Restrictions : No access Chinese mainland

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