On August 29, the Guangdong Securities Regulatory Bureau held a 2017 mid-year regulatory meeting to study and implement the content of the national financial work conference, the Securities Regulatory Commission mid-year regulatory work forum and the financial work conference of Guangdong province. Chairmans and other executives of the 272 listed companies and 160 companies to be listed from Guangdong area, more than 560 people attended the meeting. Guangdong Securities Regulatory Bureau Party Secretary, Guangzhou Inspection Bureau Director Chen Xiaopeng made requests at the meeting, to strengthen the supervision comprehensively and strictly in accordance with the law, to improve the quality of listed companies effectively, and further to enhance the capacity of the Guangdong capital market to serve the real economy.
Chen Xiaopeng fully affirmed the results achieved by capital market in servicing Guangdong real economy. Statistics show that by the end of July 2017, the number of listed companies of Guangdong Province reached 538, the total market value of 8.6 trillion yuan, accounting for 16% of the country; since 2016, there are 120 new IPO enterprises in Guangdong, accounting for 24% of the country; what’s more, currently, the IPO projects and enterprises which were audited and put on record by the Securities Regulatory Bureau reached 300, accounting for 20% of the country, and the development prospect is good. Since 2012, there are 133 listed companies to implement the equity refinancing in the Guangdong area, as well as to issue corporate bonds 89 times in the Shanghai and Shenzhen Stock Exchange, which financed 468.5 billion yuan, the number and scale are in the forefront of the country; the number of implementation of a major asset reorganization is 101, and the transaction amount is 326.2 billion yuan; there are 206 listed companies implement cash dividends in the region, amounting to RMB 54 billion, up by more than 19% year on year, which is more than ever.
Chen Xiaopeng pointed out that listed companies, especially non-financial listed companies, are mostly industry leaders, is the typical representative of the real economy and the source of value creation, we must firmly inhibit the tendency to false. What’s more, the listed companies should not pursue short-term interests and the hot and blind investment, they should make clear their positioning, adhere to the main business, and strive to build their own core competitiveness.
Chen Xiaopeng stressed, we must keep firmly in mind the functions of the supervision department, strengthen the capital market supervision strictly according to the law. All listed companies should adapt to the new situation and new requirements in accordance with the law, and constantly strengthen the consciousness of standardization, improve the governance structure, improve the rules and regulations to ensure that the company operate canonically.
Improving the quality of listed companies continuously is not only mostly determine the reform and development situation of capital market, but also reflects the ability of the capital market to serve the real economy. Chen Xiaopeng asked all companies to adhere to the steady progress, implement the new development concept, focus on the main business, standardize the operation, and become a real "pearl". And there are four requests. Firstly, to identify the main responsibility, and steadily resolve the risk of delisting, adhere to safe operation, pay attention to high level management, and avoid systemic regional risk. Secondly, to carry out refinancing moderately, and carry out mergers and acquisitions to optimize the allocation of resources and implement the industrial restructuring and upgrading, otherwise, to use shareholding inspire the employee, focus on the main industry, and make a good use of capital markets. Thirdly, to improve the corporate governance structure, and improve the level of corporate governance constantly. Fourthly, to fulfill the obligations of information disclosure to effectively control the insider trading, and enhance the transparency of company. Fifthly, to strengthen education and training, as well as strengthen the system of appointment and removal, management and assessment of the company executives, to let the executives be diligent and responsible, as well as obey the law.