Northeast securities

Earlier this year swtor power leveling, when eight priorities in 2011 proposed by the Securities and Futures Commission Chairman Shang Fulin, expanding the pilot scope of Zhong Guan Cun, building a unified regulation of over-the-counter markets throughout the country, namely Guancheng in the trade "new third Board expansion", 1th, known as the 2011 China's capital market reform project. Over the past year, have gradually the pace of new third Board expansion asymptotically. Especially in the current medium and small enterprisesContext of financing difficulty comes into focus, the new third Board expansion is expected to speed. Industry analysts believe that the new capacity on third Board as soon as possible to achieve, not only mitigation to a large extent rely on credit financing dilemma of SMEs, and to enhance the governance structure of small businesses, perfecting the multi-level capital market. Experts believe that, given the current demand, new third Board expansion was necessary to start early, steadyExhibition. New third Board expansion preheating action to speed up so-called new third Board, is the industry's "non-listing of Zhongguancun Science Park company limited agent of quotations of shares transfer systems" commonly known as, its listed companies are registered in the innovative enterprise of the national high-tech industrial park. Extend the scope of new third Board expansion is the pilot zone, national high-tech enterprises in the Park will have the opportunity to participate in theDirect financing market. New third Board since 2006 pilot operation, expansion preheating actions increases significantly this year. Coupled with this year's special background, widening financing channels of management actions on frequently. June 2011, the State Council on approving and forwarding the development and Reform Commission on 2011 key work in deepening economic system reform, promoting the construction of the over-the-counter market,Further perfecting the multi-level capital market system of ranks. On October 12, the State Council Executive meeting "to further promote exchange market and over-the-counter market building, improve equity collateral financing environment for small micro enterprises". In early November, eight ministries such as Ministry of science and technology, the SFC issued to speed up the construction of national OTC market. The industry believes, politicianConvey the spirit's sake, construction on the OTC market as an important way to solve SME financing has been identified as a priority, and the new third Board as an important part of the OTC market construction, expansion may be faster. At the operational level, this accelerated pace. Recently, for establishing national common over-the-counter markets, securities industry association presented significantly speed up theSecurities companies qualified to give a progress. As of November 8, charge d ' affaires of the Securities Association of China has been approved by system hosting brokers reached 58, the total number has more than half of all 106 securities company. The first 8 months of 7 securities companies have been approved since September 9 the securities company obtained the qualification. According to one industry source, Shanghai Zhangjiang OTC marketWill be launched in mid-December, the market will face the nation, a preliminary listing of enterprises will be not less than 18. Zhangjiang current corporate subsidies for entering third only 800,000 yuan, compared to other regions, this is not a big support. Parties preparing for new capacity on third new third market as a necessary and important part in the construction of multi-level capital market, after the new third Board expansionPlanning, as well as under the background of the current widening financing channels for small and medium enterprises, expansion has become an irresistible trend. Parties is also actively preparing for the new third Board expansion. In addition to significantly speed up the approval of the securities industry association, China host the brokerages process agent system, brokerages themselves more hope to introduce more innovative businesses, new third expansion started to become brokerages "eat" objects. However, following theBecause third Board listing too few enterprises, trading is not active, brokers in this business that has not been much interest in third Board broker business to earn less, basically losing money. Only veteran of shenyin wanguo small surplus on this business. Looking back now, is actively preparing for the new third Board expansion, the major securities firms are struggling to compete for talent and marketing resources, actively to spreadZhang. Shenyin wanguo while based in Jiangsu and Zhejiang provinces area resources, also expanded Beijing Zhongguancun Science Park. Northwest securities won't be limited to the West. Changjiang securities has contracted with most of the enterprises in the East Lake high-tech Park. "Guotai Junan securities also are preparing for the new third Board expansion, many high-tech Park has signed a strategic cooperation agreement and to carry out projects reserve。 "General Manager Wang Dali said guotai Junan securities over-the-counter markets headquarters. It is understood that the current OTC guotai Junan securities has established a special headquarters, and has been recruiting for relevant preparations, against a number of core systems, such as the market-maker system to study and prepare. While in new capacity on third Board is not the case, of guotai Junan counselling enterprises is currently in progress, there are threeDocuments for applying stage. In fact, as the new third Board expansion will help to relieve small and medium enterprises, especially those registered at the national high-tech Park in the financing difficulties of SMEs. Many high-tech Park started to mobilize and launch support policies, subsidies to encourage enterprises to enter the new third market listing. Currently, almost all head for the new third pilot local governments andPark, were introduced to encourage appropriate measures supporting system of enterprises listed, intention about listed companies to pay subsidies and policy support. For example, the Suzhou high-tech Park of quasi-listed companies in addition to enjoying the $ 1.35 million in cash awards, can enjoy a certain degree of financial subsidies. In addition, the top 5 list on the new third successful record companies, but also additional award $ 500,000 in cash. The new thirdExpansion early start, new third Board as soon as possible to achieve steady development capacity will alleviate to a large extent rely on credit financing dilemma of SMEs, but can also provide springboard into higher levels of market, the introduction of institutional money, improving governance structures. But judging from the current situation, expansion is not a simple expansion of the capacity also involves a number of system reform and progress. ShangSea equity managed trading center, said Zhang Yunfeng, current new third still has two aspects: one is a lack of market liquidity, investors drop, becoming an unattractive market, which in turn create a vicious circle, bring liquidity continues to decline, resource allocation function to fade. Secondly, after the listing broker intermediary services such as financing, regulating the operation of counselling serviceInadequate. "In fact, listing process itself is secondary, and the enterprise after the listing of services and development is more important, this is a new third market challenges. "Said Zhang Yunfeng, such as the enterprise needs of new third market directed financing, the brokerage part of enterprise risk and equity underwriting capability, after listing service capacity is very high demand, and that is what the majority of currentThe lack of domestic brokerages. Another problem is to go for a new third market mechanisms has not been established, new third Board market also cannot communicate with the motherboard, the growth enterprise market to achieve effective combination. At present new third market on a handful of companies achieve listing on the gem, but still is the IPO process, not directly. The industry says, go Board in international capital markets is usuallyAnd it is necessary, the current domestic transfer mechanism in the system and there is no obstacle, but mainly concepts problems. In fact, can do for the next GA in mind is that the enterprises have an incentive to enter one of the important factors of the new third. Shandong a multimedia enterprises to be listed on the new third told reporters, it enters a new third Board listing there are two main aspects to consider: first,In order to take advantage of opportunities on ' corporate governance code, followed to enterprise IPO experience and doing well in mind for the future work. Director of China and the world economy Research Center, Tsinghua University, Mr Li said, given the current demand, new third Board expansion was necessary to start early and steady development. Actively engaged in the listed new third Shanghai software limited company General ManagerMeng Xianguo said, the company began to focus on new third from last year, but relevant guidance and regulations of the State has yet to emerge. Although enterprises have entered the pilot range, desire for reform, but as the policy on a long period of uncertainty, many enterprises ' enthusiasm for the new third may be depleted. The a-share market "new third concept" shares what? Further reading and the "new three Board"Mainly related to the expansion of the three classes of shares: high-tech areas, brokerages, share in" new third Board. " 1. "new third" the most direct benefit is high-tech zone concept. Current state-level high-tech industrial park, there are 86, and select one of the first pilot Park expansion key indicators include Park's economy and enterprise's readiness in the Park. Currently Park with the highest voices includingHan, Suzhou, Zhangjiang and Shenzhen. Listed companies associated with the larger high-tech zone, Changchun High-Tech (000661), zhangjianggaoke (600,895), East Lake high-tech (600,133) in Suzhou high-tech (600,736), electronics (600,658), Nanjing high-tech (600,064) shares, Dagang (002077), Will benefit, of course, the existing pilot Zhongguancun (000931) often divergent plate mixer. 2. the new third "expansion, market-maker system, the introduction of the individual investors waiting for news on brokers ' constitutes a positive stimulus. Introduction of new third market maker system, sponsor underwriting for brokerages, just a one-time fee, but a long-term source of income, profit will beView. The so-called market-maker system, meaning the purchase price and the price of the Securities and Exchange (or primarily) by market makers continuously quote, buyers and sellers entrust does not directly matched transactions, but rather from the hands of market makers buy and sell. Market maker by this constant sale can profit and maintain market liquidity. United States experience, market maker business profits account for all brokerages40%~60% of business profit. At present the "new three Board" allow only business investment, future individual investors to invest in "new third Board" is expected to open up, so as to generate more revenue for market makers. Due to the regional characteristics of shares managed, the "new three Board" location more accessible to local firms, a local brokerage market maker and therefore swtor credits, Societe Generale securities (601,377) andFuzhou high-tech district, Northeast securities (000686) and Changchun high-tech zone, Changjiang securities (000783) and the geographical association between Wuhan East Lake high-tech zone is a growing market, which included three brokerages are market "new third concept", but in fact, other national securities companies competitive in the new third Board should not be small. 3. with the "new third" expansion, Venture enterprise will receive "new third Board" and "then listing" on two different levels of investment opportunities. Such as the Beijing times, green environmental protection, such as "new third" Unisplendour shares of the company's equity (000938), shares of green environmental protection Beijing new building material (000786), longitudinal, indirect equity participation in science and technology of China Baoan (000009), equity participation in XING Hao medicine doubleHeron pharmaceutical industry (002038), it can be focused. "The new third concept" code name with the "new three Board" information 600,064 Nanjing high-tech economic development zone, Nanjing haitai 600,082 unique park development enterprise development of Tianjin high-tech development enterprises 600,133 East Lake high-tech development of East Lake Hi kinSet (recombinant suspension) 600,658 electronic city land development and management of electronic city Science Park 600,736 Suzhou high-tech development and construction of Suzhou high-tech zone 600,783 Lu venture unique "venture" the words torch high-tech listed company 600,872 600,895, Zhongshan torch high-tech development and industrial investment jianggaoKezhangjiang high-tech parks and industrial 601,377 industrial securities investment and the development and management of Fuzhou high-tech zone associated with high longitudinal 000009 China Baoan shares technology high-tech development of Chengdu Hi-000628 000661 Changchun high-tech development and industrial investment in Northeast Changchun high-tech development and industrial investment 000686Securities associated with the Changchun high-tech zone of high 000783 high securities associated with Wuhan East Lake high-tech zone of the Yangtze River 000786 bnbm shares of green environmental protection by new 000931 Zhongguancun third earliest experimental site 000938 Unisplendour shares shares Beijing time, green environmental protection by 002038 double Egret pharmaceutical industry star Hao medicine002077, the second largest shareholder in Zhenjiang Dagang shares industrial park development and construction