Clothing Enterprises Should Have The Initiative Of "Direct Financing".

A year ago, a series of policies and plans issued by the central high level and the capital market supervision department were released, aiming at building a multi-level capital market and raising the proportion of direct financing in the capital market.

Clothing enterprises should do well in the main business, consolidate the assets quality of enterprises, promote their pformation and upgrading through capital market, and enhance their valuation in the capital market through the continuous growth of their own enterprises, so as to achieve a virtuous circle of industry and capital.

The standing meeting of the State Council, held in December 23, 2015, adopted the principle of "implementing the opinion on further improving the proportion of direct financing and optimizing the financial structure". The implementation of the opinion was clear to 2020, and the direct financing system of market, wide coverage, multi-channel, low cost, high efficiency and strict supervision was basically completed.

The proportion increased significantly.

The meeting proposed that we should further improve the proportion of direct financing measures and enhance the efficiency of financial services in the real economy.

We need to improve the multi-level capital markets such as stocks and bonds, establish a strategic emerging board of Shanghai stock exchange, support the financing of innovation and start-up enterprises, improve relevant laws and regulations, promote the listing of special equity structured venture enterprises in China, increase the number of listed company in the share pfer system of the small and medium-sized enterprises nationwide, launch a pilot scheme to pfer the gem to the gem, and standardize the development of regional equity markets.

Next year, the SFC will focus on 5 aspects: first, actively develop the stock exchange market, and the Shanghai Stock Exchange's strategic emerging board must be launched; two, speed up the improvement of the new three boards, increase the number of listed company in a large scale, implement the market internal layering, study the pilot pfer to the gem; three, standardize the development of the regional equity market; the regional equity market will form a unified management standard in the future; four, carry out the pilot scheme for the public financing of equity financing, and next year, we must start the pilot scheme of the stock raising crowd, but not rush into mass action; five, expand the bond market, and better coordinate the supervision between the inter-bank bond market and the exchange bond market, and the ultimate goal is to form a unified bond market. On December 25th, Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said at the briefing of the State Council's policy briefing that the direct financing should be further enhanced.

In December 30th, the Shenzhen stock exchange held the forty-sixth meeting of the Third Council to clarify the key work in 2016.

The meeting called for a substantial increase in the inclusiveness of the growth enterprise market, laying the foundation for the smooth listing and financing of enterprises that have not yet made profits and special equity structure, creating better conditions for the new three board enterprises to pfer to the GEM board, restoring the IPO issuance of the Shenzhen main board, serving state owned enterprises reform, and cultivating more market-oriented blue chip enterprises.

In the interim, we will actively strive for the "Shenzhen Hong Kong Link" to start as soon as possible.

Looking at the above policies, it can be predicted that 2016 will be a year of accelerated pace of direct financing in the capital market.

The main board, small and medium board, gem, new three boards, four boards (regional equity market), equity chips, bond markets and other markets will have new moves.

An important goal of developing a multi-level capital market and raising the proportion of direct financing is to enable enterprises that want to develop and have the ability to develop, especially small and medium-sized enterprises, not to be able to develop because of "no money", so that enterprises in different stages of development and different characteristics can find suitable ways of docking with the capital market and reduce the number of enterprises.

And risk to promote industry pformation and upgrading.

At the same time, "rich" enterprises can make more flexible use of capital for mergers and acquisitions.

This is a good thing for the garment industry, which is mainly traditional industries and small and medium-sized enterprises.