Pickups ｜ Securities Regulatory Commission: 2021 Innovation board and GEM listed companies are much higher than other sectors

Cover news reporter Teng Yan

A few days ago, the Central Propaganda Department launched the "China Ten Years of Ten Years · Series Theme Release". The column of the cover news "Picking the Year" will pay attention to the whole process, reporting to China's achievements and changes in the past decade.

"In 2021, the intensity of the R & D intensity of science and technology boards and GEM listed companies was 9.6%and 4.6%, respectively, much higher than other sectors, which was higher than the proportion of unlisted companies. "On June 23, at the press conference of the financial sector's reform and development of the financial sector since the 18th National Congress of the Communist Party of China on the Propaganda Department of the CPC Central Committee, Li Chao, vice chairman of the China Securities Regulatory Commission, introduced.

▲ Li Chao, vice chairman of the China Securities Supervision and Administration Commission (picture source: Guoxin.com)

Li Chao said that the capital market supports scientific and technological innovation with special advantages. It is not only the science and technology board to support scientific and technological innovation. It focuses on the perspective of comprehensively supporting scientific and technological innovation and better play the special functions of the capital market. At present, the effect is obvious. Essence For example, during the pilot process of the registration system, some arrangements and reforms made some science and technology boards and GEM. The establishment of the Beibei Stock Exchange is also a very important step for supporting innovative SMEs. In terms of reasonable exit, venture capital and private equity have also made some institutional arrangements. The bond market has established varieties such as innovation and entrepreneurial bonds and science and technology innovation bonds, giving technological innovation companies strongly support. Specific to the stock market, a diversified and inclusive issuance conditions have been set up, allowing the listing of science and technology enterprises that meet the corresponding requirements such as unprofitable and special equity structures. The implementation of a more flexible equity incentive mechanism has played an important role in promoting and promoting the development of science and technology enterprises.

At the same time, it is also manifested in the continuous improvement of financing functions. In the past two years, the number of science and technology boards and GEM IPO companies exceeds 70%of the domestic market during the same period, and private equity funds have invested in a total of not listed companies. It was invested in the field of scientific and technological innovation. The capital market supports scientific and technological innovation, which is not only reflected in financing, but also in the incentive mechanism effect. The capital market provides a unique, diverse and effective incentive mechanism for scientific and technological innovation enterprises. The demonstration and gathering effects have gradually formed. A number of scientific and technological and market -recognized scientific and technological innovation companies have successively landed on the capital market. Integrated circuits and biomedicine are more popular with science and innovation.

"Judging from the situation of scientific and technological innovation companies listed on the science and technology board in recent years, the speed of technological research and independent innovation is accelerating." Li Chao pointed out that in 2021, the research and development intensity of science and technology boards and GEM listed companies was 9.6%and 4.6%, much higher than other sectors, a higher percentage than unlisted companies, playing a positive role in forming a good atmosphere of scientific and technological innovation in the whole society.

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