At the Shanghai government press conference held on April 15th, Xu Quan, deputy director of the Shanghai Financial Office, revealed in response to questions that the “international board issue†has been included in the key work of Shanghai ’s construction of an international financial center, the China Securities Regulatory Commission and the Shanghai Stock Exchange. System design is being carried out on this, and it can be implemented as soon as the standards are perfected, and is expected to be launched within the year.
Xu Quan said that after the State Council issued Document No. 19 in April 2009, Shanghai has carried out a series of financial innovations in promoting the construction of an international financial center, such as foreign-funded companies issuing RMB bonds in China, and foreign companies listing on the Shanghai Stock Exchange. All of them have been listed as key tasks in the construction of an international financial center, and are currently being promoted in an orderly manner. "The issue of RMB bonds by foreign institutions in China depends on the needs of the enterprise. If the enterprise has demand, our path is feasible." Xu Quan said that as far as he knows, some specific companies have already reported.
"Shanghai International Financial Center is bound to be a wealth management center, and we must promote the development of PE. There are systematic arrangements in this regard. For example, there is a way to register GPs and LPs in 2008." When answering questions, Xu Quan revealed, Following the Pudong New District's introduction of management measures for the management of foreign-invested GPs, the Shanghai Municipal Government is currently preparing to publish "Several Opinions on the Pilot Work of Foreign-invested Equity Investment Enterprises in this Municipality". "The introduction of this" Opinion "is very helpful to promote the development of Shanghai PE, because it allows certain conditions to be established and RMB settlement can be carried out under certain institutional arrangements to form its LP", Xu Quan said, in the State Foreign Exchange With the support of the bureau and relevant departments, implementation rules are currently being arranged for specific contents including foreign exchange settlement, foreign exchange settlement timing, and the effectiveness of investment projects.
Regarding the “international board issues†that the media cares about, Xu Quan said that the CSRC is drafting the pilot methods and drafts for the listing of IPOs of overseas listed companies, which are under discussion. This is a normative document for the development of the international board, and at the same time, we are working on the formulation of trading rules on the exchange. "Once these system design standards are perfected, they can be implemented if they are mature," Xu Quan said with a smile. "I asked my comrades on the Shanghai Stock Exchange, and they told me that they are expected to be launched within the year."
PE (PrivateEquity): Private equity investment refers to equity investment in private companies, that is, non-listed companies, through private placement. The future exit mechanism is also considered in the transaction implementation process, that is, through listing, mergers or acquisitions Purchase and other methods, sell shares to make a profit.
LP (LimitedPartner): Limited partner.
GP (GeneralPartner): General partner.
QFLP (QualifiedForeignLimitedPartner) pilot program, that is, the pilot program of qualified foreign limited partners to participate in RMB equity investment funds.
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