CSRC: Support GEM-listed companies in absorbing and merging with domestically listed companies that have been listed for less than three years

Mars Finance News April 10 – According to the State Council’s approval, the China Securities Regulatory Commission has issued the “Opinions on Deepening the Reform of the Growth Enterprise Market and Better Serving the Development of New Quality Productivity.” Among other measures, it proposes improving the financing and merger and acquisition system, enhancing the flexibility and convenience of equity and debt financing. It guides listed companies to raise funds reasonably and according to needs, introduces a refinancing reserve issuance system, allows listed companies to temporarily delegate the board of directors to implement simplified refinancing procedures, and raises the upper limit of simplified procedures. It supports the absorption and merger of domestic companies listed on the Growth Enterprise Market that have been listed for less than three years, while continuing to fulfill regulatory requirements related to lock-up periods. It supports the implementation of equity incentives for Growth Enterprise Market listed companies with strong operational regulation and innovation capabilities, allowing flexible setting of assessment indicators. It supports Growth Enterprise Market listed companies in issuing products such as technology innovation bonds, green bonds, and intellectual property securitization, and supports high-quality companies in applying simplified disclosure arrangements for corporate bonds. (CSRC website)