日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

New bourse in the market for innovation

By SHI JING in Shanghai and ZHOU LANXU in Beijing | China Daily | Updated: 2021-11-22 07:34
Share
Share - WeChat
The opening ceremony for the Beijing Stock Exchange is held on Nov 15. [Photo/Agencies]

Vital factor

Access to financing is especially important for BSE-listed companies, which rely heavily on R & D investment to survive and thrive. The first 81 companies trading at the new bourse saw their average annual R & D investment valued at 25.3 million yuan last year, more than 4 percent of their annual sales revenue for 2020.

On average, A-share companies devoted 1.92 percent of their annual income to R& D last year.

Of the 81 companies, 87 percent are from the advanced manufacturing, modern services, high-tech services, and strategic emerging industries. Seventeen of the debutants are "little giants" recognized by the Ministry of Industry and Information Technology as leading SMEs that specialize in niche sectors, command a high market share, boast strong innovative capacity and core technologies. Most of the companies were launched between 2002 and 2006.

To help them successfully float on the BSE, central regulators have lowered the threshold. A company with market capitalization estimated at 200 million yuan can apply to go public at the bourse. More important, no stringent requirement has been set for BSE applicants' profitability, as they have invested a sufficient amount in R& D.

In comparison, the threshold is set at 1 billion yuan if a company plans to go public on the ChiNext at the Shenzhen Stock Exchange, which helps companies from traditional industries come up with new business models and patterns. A similar benchmark is set for the STAR Market at the Shanghai Stock Exchange, which aims to nurture large hard technology companies.

While listing requirements have been loosened at the BSE, this also means more complex issues for investors.

Wang, of Standard Chartered, suggested that individuals intending to invest in BSE companies turn to professional institutions, which have researchers with relevant academic backgrounds and additional industry insight.

With this in mind, the first eight BSE-themed mutual fund products went for sale on Friday. All the big names in this industry are on the product list, including E Fund, China Asset Management, Harvest Global Investments and China Universal. With each product's subscription limit set at 500 million yuan, a total of up to 4 billion yuan in funds will be raised. At least 80 percent of the funds will be used to invest in BSE stocks.

All eight products reached the 500 million yuan limit by noon on Friday.

Gu Xinfeng, fund manager at China Asset Management, said liquidity at the BSE will improve with more capital attracted by the mutual funds. As the first eight products are two-year closed-end mutual funds that exclude daily redemption, the idea of long-term and value investment will be better realized, he said.

Granting approval for the eight mutual fund products on Nov 12, the CSRC also stressed that fund managers should abide by the rules for long-term, value and rational investment. They should be responsible as professional investors in the market and as practitioners of inclusive finance. Continued efforts should be made to enhance fund managers' competency in research and risk control. This would enable them to give full play to their roles as institutional investors when helping with pricing of initial public offerings and taking part in secondary market trading, the CSRC said.

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 久久99精品国产99久久 | 啪啪免费视频网站 | 欧美一区二区三区免费视频 | 久久www免费人成看片高清 | 日韩a无吗一区二区三区 | 九二淫黄大片看片 | 澳门一级毛片免费播放 | 欧美18 19sex性处video | 国内一级特黄女人精品片 | 亚洲欧美另类视频 | 丁香狠狠 | 亚洲经典在线中文字幕 | 欧美系列第一页 | 99九九精品 | 久久亚洲精品国产精品黑人 | 久久99精品这里精品动漫6 | 美国一级欧美三级 | 一级黄片毛片 | 日日操夜夜操免费视频 | 欧美精品国产一区二区三区 | 国产日产精品久久久久快鸭 | 国产欧美一区二区三区精品 | 91偷拍精品一区二区三区 | 国产二区三区视频 | 欧美黑人性暴力猛交免费看 | 国产精品中文在线 | 亚洲浮力影院 | 91久久青青草原免费 | 中国大陆高清aⅴ毛片 | 91蜜芽尤物福利在线观看 | 一区二区三区四区国产 | 亚洲在线免费观看 | 免费观看一级黄色片 | 久久亚洲欧美成人精品 | 在线一区视频 | 双凤奇案 | 性色网站 | 一级黄a | 懂色中文一区二区三区在线视频 | 色综合久久88中文字幕 | 国产色在线 |