On June 30, the Shanghai Stock Exchange issued the "Notice on Further Playing the Functions of the Asset Securitization Market to Support Enterprises to Revitalize Stock Assets" (hereinafter referred to as the "Notice").
"The release of the "Notice" is one of the measures taken by the Shanghai Stock Exchange to implement the State Office's "Opinions on Further Revitalizing Stock Assets and Expanding Effective Investment". A virtuous circle of financing." The relevant person in charge of the Shanghai Stock Exchange said that in the next step, the Shanghai Stock Exchange will continue to innovate asset securitization methods to revitalize assets, expand the depth and breadth of asset securitization market services, improve the quality and efficiency of serving the real economy, and promote the high-quality development of the bond market.
Focusing on the key direction of revitalizing existing assets, the "Notice" innovates and expands the specific methods of asset securitization and revitalization, and optimizes and strengthens various market support measures. The main contents include:
First, focus on key directions and innovate and expand asset securitization methods to revitalize stock.Support qualified key areas, key regions, and key enterprises to carry out asset securitization business, identify the scope of stock assets suitable for securitization based on the asset characteristics of key support areas and industries, encourage business innovation and raise funds for reinvestment, and support enterprises Use PPP projects, intellectual property, etc. to carry out securitization.
The second is to highlight asset credit and strengthen and improve the asset securitization investor protection mechanism.Refine bankruptcy isolation and information disclosure requirements, guide enterprises to improve investor protection mechanism arrangements, encourage managers to disclose underlying assets and the company's own situation in a targeted manner, improve information disclosure, and promote the sustainable and healthy development of the market.
The third is to increase financing services and optimize and strengthen market support measures for asset securitization.The Shanghai Stock Exchange will include relevant indicators in asset securitization business evaluation, innovative business or product pilots, etc., and encourage managers to actively provide securitization professional services.
"Securities Daily" reporters learned that in order to fully mobilize and give full play to the synergy of the market, the Shanghai Stock Exchange has recently made overall arrangements and promoted the solution of major and difficult problems in revitalizing assets through asset securitization and other means, and explored innovative paths and methods for revitalizing assets.Since June, 10 industry seminars and regional revitalization workshops have been organized for key industries such as expressways, rail transit, shipping ports, power and energy, as well as key regions such as the Yangtze River Delta, Pearl River Delta, Beijing-Tianjin-Hebei, etc. It aims to give full play to the joint efforts of industry associations, local governments and intermediaries to further promote the ability of asset securitization to serve the real economy and improve the efficiency of revitalizing the stock.(Wu Xiaolu)
