Autorité de régulation des marchés financiers : améliorer le système de financement par fusion-acquisition, renforcer la flexibilité et la commodité du financement par actions et obligations

Mars Finance information, the China Securities Regulatory Commission 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, and the flexibility and convenience of equity and debt financing should be enhanced. A refinancing reserve issuance system will be introduced. Simplified procedures for refinancing will be optimized. Support will be given to high-quality innovative companies to flexibly set equity incentive assessment indicators. Support will be provided for GEM companies to issue sci-tech innovation bonds, green bonds, and other products. Whole-process supervision will be strengthened to promote the improvement of listed company quality. The regulation of initial public offering pricing will be reinforced. Continuous strict prevention and punishment of financial fraud by listed companies will be maintained, with strengthened penetrating supervision and severe penalties for illegal activities such as fraudulent issuance and financial falsification. Classification supervision of listed companies will be enhanced. The delisting system will be improved and strictly implemented. The responsibilities of intermediary institutions as “gatekeepers” in the capital market will be further solidified.