Liping: The gem activates financial services for SMEs

Liping, general manager of Shenzhen Stock Exchange, said at Lujiazui forum June 26 that the development of China's multi-level capital market has a significant effect on solving the global problem of SME financing, but the institutional supply of China's capital market still needs to be perfected. Liping pointed out that the launch of the gem to mark the capital market multi-level service framework is basically established. June 10, 2009 began to resume the IPO, until yesterday, the small and medium-sized plate listed 175 enterprises, GEM listed 90 enterprises, a total of 224 billion yuan, led the whole to the capital market as a link to the SME financial services system.　　The gem provides a high return exit mechanism for venture capital, so the entire financial service is alive. Moreover, the function of multi-level capital market to promote economic structure adjustment is also preliminarily appeared. After the establishment of multi-level capital market, it plays a function of pricing and resource allocation for small and medium-sized enterprises. Led to a large number of social funds to the new industry, High-tech industries to accumulate continuously. In the second half of last year, the amount of financing and investment of SME board and Gem has greatly exceeded the foreign currency fund. The first quarter grew 70% from a year earlier, and the investment amount grew by 104%.　　A large number of innovative enterprises finally broke through the financial bottleneck, into the rapid development of high growth track. Liping that domestic multi-level capital market is still in the initial stage of development, in order to meet the needs of SMEs financial services, we must further improve the system supply of capital market.　　From the experience of countries, the technology revolution, Industrial Revolution, economic restructuring of the major period, the capital market plays a key role. Liping also listed several problems facing China's multi-level capital market. The first is to deepen the distribution system, trading system reform, and further improve the market risk pricing capacity. Second, how to establish and improve the small rapid refinancing, mergers, acquisitions system. Third, how to strengthen the effective division of labor and Organic relations among each other according to the positioning of various plates in multi-level market and the characteristics of service objects. Finally, how to cultivate a good share culture and social responsibility consciousness before the great wealth benefit.