The State Council Information Office held a press conference on the 22nd to introduce the relevant situation of science and technology financial policies and answer questions from reporters. At the meeting, Yan Bojin, Chief Risk Officer of the China Securities Regulatory Commission and Director of the Issuance Supervision Department, pointed out that the China Securities Regulatory Commission has unswervingly promoted high-level opening up of the capital market and vigorously supported technology companies to make good use of the "two markets and two resources" at home and abroad.
Yan Bojin said that from March 31, 2023, the new overseas listing regulations were officially implemented. In more than two years, the filing management mechanism has been operating smoothly. As of the end of April this year, 242 domestic companies have been registered for overseas listing, 83 of which are technology companies, mainly concentrated in the fields of information technology, biomedicine, new energy, advanced manufacturing, etc. The CSRC will work with member units of the cross-departmental coordination mechanism to continue to support qualified technology companies to use the domestic and overseas capital markets to develop in a standardized manner, providing a more transparent, efficient and predictable regulatory environment for technology companies to go public overseas.
Yan Bojin said that while supporting the development of technology companies, the CSRC also pays great attention to the supervision of fundraising. The capital market has always had strict regulatory requirements, disclosure requirements and use requirements for the funds raised by listed companies for initial public offering and refinancing. For example, the Science and Technology Innovation Board requires that the funds raised must be invested in the field of technological innovation. Recently, the China Securities Regulatory Commission revised and issued the "Regulations on the Supervision of Fund Raising of Listed Companies", proposing that funds raised should be used exclusively, focus on the main business, support the development of the real economy, strictly supervise the changes in the purpose of funds raised, and further strengthen the safety and standardization of funds raised by listed companies.
