Zhongguancun science and technology park is expected to be the first batch of companies listed on the third board Market

Some Beijing Zhongguancun science and technology park enterprises is expected to become the first pilot unit to enter the third market transactions, this means that the Chinese multi-level capital market system construction is an important step.

Reporter Jiao Qiang.

Shenzhen stock exchange is about to usher in a number of new guests. "Financial Times" exclusively learned that some of Beijing Zhongguancun Science Park enterprises is expected to become the first batch of pilot units into the agency share transfer system (commonly known as the third board market listing).

Previously, the industry agreed that, Guangdong, Sichuan and other companies to raise more targeted areas, which are more likely to take the lead enterprises finalists.

The latest developments have apparently surprised them.

"Financial Times" was found that the relevant enterprises to go to the third board listing preparation work is being carried out in full swing, a number of brokerage firms and related companies have frequent contact.

Anecdotal rumors, the first company will soon be listed.

December 15th, the Shenzhen Stock Exchange has held an internal working conference on this, to discuss the details of the new companies rushed to the third board. But the specific content is not clear.

In accordance with the conventional, the stock market to make such a major reform to advance, will advance the introduction of relevant rules, and then to implement. In addition, the central securities registration Clearing Corp also need to make the appropriate preparations for the transfer of investors in the future, such as the establishment of a platform. At present, it seems that the preparatory work does not seem sufficient.

If the Zhongguancun enterprises in the park will be successful, long silence of the third market a shot in the arm. This means that China has taken an important step in the construction of multi-level capital market system.

Send Me No Flowers

Since the Chinese Securities Industry Association launched non-public offering of shares of the company to enter the stock transfer agent system, agent bidding transfer pilot preparation work since the market a lot of attention and speculation of the first pilot who spent.

Recently, the financial times was informed that a number of enterprises in Beijing, Zhongguancun science and technology park is expected to become the first pilot to enter the third board market transactions.

According to the Zhongguancun Administrative Committee official said, under the mediation of the Beijing municipal government, the project has been submitted to the State Council, is currently awaiting approval stage, and should not be a problem". Previously, other provinces enterprises also want to fight, but have been frustrated.

Zhongguancun administrative committee, told reporters that the matter led by the China Securities Regulatory Commission, the China Securities Industry Association Co sponsored by the Zhongguancun administrative committee, the Shenzhen stock exchange.

Since this project is launched from top to bottom, until now, the parties are still lack of effective communication.

We do not know, the following companies do not know how to go to the third board listing. But some of the principles of things set down, that is, pilot companies only allow listed transactions, can not finance. Its nature is equivalent to the property exchange counter transactions."

The counter trade refers to all kinds of securities transactions outside the stock exchange, market participants by many companies, securities companies, investment companies and ordinary investors, is a decentralized and non fixed trading places the invisible market, mainly by way of transaction pricing negotiation.

The Shenzhen Stock Exchange staff confirmed some of the above statement, we have long been ready for the trading system. But who will? When listing? Transactions and other specific issues are not yet known, we have no right to disclose."

China Securities Industry Association stakeholders believe that Beijing enterprises are indeed the first to log on to the third board, but the launch time has not yet been determined. Because it is related to the establishment of multi-level capital market system of strategic deployment".

Preemption

In fact, Beijing Zhongguancun science and Technology Park in the competition got a deeper background.

In June 17th this year, Premier Wen Jiabao visited Zhongguancun after August 3rd, the State Council issued a special meeting on the "summary" to support the strong Beijing Zhongguancun science and Technology Park, a number of policy measures, identified 8 specific policy measures (referred to as the "country of eight").

Eight states, the article clearly put forward, we should pay close attention to the implementation of the Zhongguancun non listed companies to enter the securities agency transfer of shares trading system, the pilot.

Shortly thereafter, the China Securities Industry Association has also proposed the non-public offering of shares into the agency transfer of shares of the transfer of the pilot system included in the work plan.

At the same time, the mayor of Beijing City office to discuss the adoption of the opinions on Further Strengthening the Zhongguancun science and Technology Park, the formation of the implementation of the eight countries, the twenty-three opinions".

Beijing took the lead in the finalists, in the sense that.

General trend

In the joint stock experts, Capital University of Economics and Business professor Liu Jipeng seems, all signs have shown that in 2006 the third board market is a foregone conclusion, multi-level capital market system profile.

The chairman of the Commission Shang Fulin Chinese recently on many occasions that, for a period of time, we must actively promote market innovation, gradually formed by the motherboard, gem, OTC network and property market, multi-level capital market system.

December 12th, China Banking Regulatory Commission Chairman Liu Mingkang at the 2005 annual meeting of Finance and economics, said that the current development of SMEs are still facing serious difficulties, financing difficulties has become an important bottleneck restricting the development of small enterprises. Solve the problem