The rules for the refinancing of the growth enterprise market (GEM) have been set, and the scope of IPO restart has not changed. Yesterday, a spokesman of the Securities Regulatory Commission (CSRC) responded to such hot issues as the opening of real estate refinancing, the construction of the refinancing system of the gem, and the restart of the initial public offering (IPO) one by one at a regular press conference,

The relevant person in charge of the CSRC said that there is no new change in the caliber of the real estate refinancing and IPO restart. On the other hand, after three years of research, the preliminary demonstration work has been completed, and the main provisions have been basically formed, which will be released when the relevant legislative procedures are fulfilled.

IPO issue is always the most concerned issue at the press conference of China Securities Regulatory Commission. In response, China Securities Regulatory Commission said yesterday that the caliber has not changed for the time being.

It is worth mentioning that the CSRC yesterday also responded to the recent hot real estate refinancing problem with the same sentence. On July 17, Xinhua News Agency issued four articles in succession, saying that the adjustment of real estate financing policy has become a foregone conclusion, among which the restructuring of listed real estate companies may be the first to open. This makes the market for regulators loose real estate refinancing policy speculation to the climax.

However, in a series of articles published by Xinhua News Agency on July 17, it actually analyzed the caliber of China Securities Regulatory Commission on June 28 and said, "recently, the spokesman of China Securities Regulatory Commission specially stressed that" when conducting relevant audit, it means that China Securities Regulatory Commission is ready to accept applications for listing, refinancing and restructuring of real estate enterprises, and start the audit procedure that has been suspended for more than three years. "

The complete "caliber" of the CSRC on June 28 is: according to the relevant regulations of the State Council, the listing, refinancing and major asset restructuring of real estate development enterprises with illegal and illegal behaviors such as idle land, land speculation, holding up the market and bidding up house prices will be suspended. As for whether the real estate enterprises violate the relevant provisions of the State Council, the CSRC will identify them according to the opinions of the Ministry of land and resources when conducting relevant audit.

Gem refinancing rules have been set

On the issue of refinancing, in fact, yesterday's market is also quite concerned about the construction of the gem refinancing system. What is obvious is that on July 15, the State Council held a high-level teleconference on the financial service experience exchange of small and micro enterprises across the country. Vice Premier Ma Kai of the State Council clearly proposed to start the refinancing of small and micro enterprises listed on the gem as soon as possible.

In response, a spokesman for the Securities Regulatory Commission said yesterday that the Securities Regulatory Commission started to study the refinancing of gem in 2010 and included it in the annual plan this year. Previously, the news from the exchange was that the GEM may establish a small and rapid refinancing system. The CSRC also pointed out this time that the refinancing of gem should establish a "small amount, fast and flexible" financing mechanism suitable for the characteristics of GEM listed companies on the basis of combining the gem IPO rules and maintaining the connection with the main board.

At present, the preliminary demonstration of the refinancing rules has been completed, and the main provisions have been basically formed, which will be released at the right time after the implementation of the relevant legislative procedures.

"Over the past three years since the opening of gem, the introduction of refinancing rules as soon as possible has become the consensus of all parties in the market, which is the basic requirement of the function construction and market policy expectation of gem." A spokesman for the SFC said.

According to the data, as of the end of June this year, there were 355 listed companies on the gem, with a total initial financing of 231 billion yuan. In addition, seven GEM companies have raised 1.98 billion yuan through corporate bonds.