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Parallel Forum | Multi-level Capital Market Helps Capital's Technological Innovation and Development

2019-10-2534 ViewsAuthor:ZGC Forum

Panorama of Venue

Host of Parallel Forum: Zeng Linfeng, deputy general manager of Zhongguancun Development Group

On the morning of October 18, 2019, the "2019 Zhongguancun Development Forum--Capital Market Parallel Forum" held in Chang Chun Hall of Zhongguancun Exhibition Center became the only feast focusing on the " capital assistance for Beijing scientific and technological innovation and development" during the 2019 Zhongguancun Forum annual meeting. This forum was sponsored by Beijing Local Financial Supervision and Administration, Zhongguancun Science Park Management Committee and Zhongguancun Development Group, undertaken by Beijing Qiyuan Capital Market Development Service Co., Ltd. and co-organized by Beijing Zhongguancun sub-branch of ICBC and Beijing Science and Technology Development Exchange Center, etc. It attracted more than 200 people from Shanghai, Shenzhen, Hong Kong, Singapore, London and other places, including heads of domestic and foreign stock exchanges, government officials, well-known securities companies, venture capital institutions, accounting firms, and representatives of scientific and technological enterprises, to participate in the exchange and discuss the new path for the integration and development of capital markets and scientific and technological innovation.

Li Zhigang, deputy director of Beijing Local Financial Supervision and Administration, said in his speech that China's capital market has ranked among the top in the world after nearly 30 years of development from scratch and from small to large, but the system construction still needs to be improved. The development of multi-level capital markets and the support of different capital market platforms for enterprises at different stages of development, so that all kinds of enterprises can enjoy the convenience of direct financing. This is exactly value of the existence of multi-level capital markets.

As a scientific and technological innovation center, Beijing has made good achievements in serving Beijing enterprises to list in Sci-Tech innovation board (STAR Market): Since STAR Market was established, up to now, the Shanghai Stock Exchange has accepted 164 applications for listing of STAR Market enterprises, of which 33 are in Beijing, accounting for 20.12%, ranking first in the country; The number of entrepreneurs issued by STAR Market was 33, including 7 in Beijing, accounting for 21.21%, ranking first with Shanghai in the country. Among the enterprises applying for registration in Beijing, 18 were from the new generation of information technology industry, accounting for 56.25%, which benefits from the clustering effect of Zhongguancun on software and information technology service enterprises and highlights the scientific and technological attributes of Beijing enterprises.


Zhao Changshan, chairman of Zhongguancun Development Group

Zhao Changshan, chairman of Zhongguancun Development Group, gave high praise to the successful convening of the forum in his speech. At present, it is an important period for Beijing to make full efforts to build science and technology innovation center with global influence and high quality development of capital finance. How to effectively use the multi-level capital market to develop science and technology innovation has become a problem that we urgently need to solve. The theme of this forum was multi-level capital market to promote scientific and technological innovation and development, which has strong practical significance.

Scientific and technological innovation begins with technology and capital completes it. Financing enterprises and investors at different stages have different subject characteristics and demands, which form different requirements for capital markets and financial services, and determine that capital markets shall be constructed and developed at multiple levels. Based on Zhongguancun, Zhongguancun Development Group has actively explored and practiced the construction of a multi-level capital market: For science and technology innovation enterprises in their start-up period and growth period, 123 private equity funds have been set up to support enterprises in various stages, including angel, venture capital fund and parent fund. It has invested nearly 2,000 projects, with an investment of 48.8 billion yuan, and has supported a number of outstanding scientific and technological innovation enterprises to list on the stock market and become bigger and stronger; In addition, it has set up a Beijing Fourth Board Equity Trading Center, supporting listed enterprises to raise more than 30 billion yuan in total, which has strongly supported the development and growth of a number of high-quality innovative and start-up enterprises.

Expert committee of Beijing enterprise listing comprehensive service platform officially established

Zhang Shuqing, chairman of Beijing Qiyuan Capital Market Development Service Co., Ltd.

The newly established "Beijing enterprise listing comprehensive service platform expert Committee" and the Beijing " Science and Technology Innovation 100" and empowerment plan released on the spot by Zhang Shuqing, chairman of Beijing Qiyuan Capital Market Development Service Co., Ltd. became the highlight of the day.

As a comprehensive service platform for listed companies in Beijing established to implement the Opinions of the General Office of the Beijing Municipal People's Government on Further Supporting the Development of Listed Companies, the company is an important component in promoting the construction of the capital's multi-level capital market. The establishment and operation of Qiyuan Capital has received strong support from Beijing Financial Work Bureau and Administrative Committee of Zhongguancun Science Park.

Since its establishment, the company has carried out a lot of fruitful work and committed to providing comprehensive listing services for enterprises. Among them, for high-quality enterprises with listing potential, training and cultivation services such as listing policy consultation, corporate governance norms and listing path selection are provided, and the Qiyuan Capital College to be established will adopt situational and case-based teaching methods to provide personal butler service for enterprises; for the enterprises entering the stage of listing, based on providing top-quality investment banking services such as management evaluation, equity and creditor's rights financing, institution selection and recommendation, as well as application for listing subsidies, big data analysis and matching holographic image for enterprises and intermediary institutions will also be established to realize intelligent IPO services for enterprises listing; At the same time, in order to promote the further development of the enterprise, Qiyuan Capital provides customized and continuous comprehensive financial services for the merger and reorganization, market expansion and risk warning of the enterprise after listing.

Good seeds are indispensable to fruitful fruits. Qiyuan Capital has always paid attention to tapping and cultivating potential enterprises. After more than a year of unremitting efforts, it has successively designed and built the "Big Data Analysis System for Enterprises" and the "Key Cultivation Bank for Listed Enterprises". In conjunction with the listed bases, financial institutions, science park and listed service institutions, centralized storage enterprise through organizing enterprise training, project roadshows, discussion visits and other methods, and formulated a comprehensive evaluation index system that can effectively evaluate the scientific creation attributes and overall operation of enterprises. "2019 Beijing Science and Technology Innovation 100 Enterprises" was finally selected and determined after systematic analysis and in combination with the opinions of industry experts.

In order to ensure that the service work can be started for the enterprise immediately after the list is released, Qiyuan Capital started the " Science and Technology Innovation 100" empowerment plan. It will rely on the Beijing Financial Work Bureau, Administrative Committee of Zhongguancun Science Park and other government departments to provide enterprises with a full range of publicity and interpretation of listing policies; Jointly with exchanges and listing service agencies, as well as the newly established enterprise listing expert committee, to provide professional listing service support for enterprises; At the same time, with the help of Zhongguancun Development Group and other advantageous resources, provide enterprises with integrated services of intellectual property rights, achievement transformation, park entry, equity investment and technology and finance.

Deepening Service Cooperation for Win-Win and Promoting Capital's Scientific and Technological Innovation and Development

- Pan Xuexian, chief supervisor of Shanghai Stock Exchange

Give full play to the advantages of science and technology innovation service of Shenzhen Stock Exchange and help to build Beijing National Science and Technology Innovation Center

- Yang Zhihua, chief supervisor of Shenzhen Stock Exchange

Accelerating the Reform of the New Third Board and Promoting the Capital Science and Technology Innovation and Development

Xu Ming, deputy secretary of the Party Committee and general manager of National Equities Exchange and Quotations.

Hong Kong Stock Exchange Helps Science and Technology Innovation Development, Serving Real Economy

-Xu Chunmeng, chief representative of Beijing Representative Office of Hong Kong Stock Exchange

Singapore Stock Exchange Actively Promotes Capital Science and Technology Innovation and Development

Chen Qing, China vice chairman and head of Singapore Stock Exchange

Risk Investment in London

Laura•Citron, chief executive officer of London & Partners Limited

The Choice of Capital Market Path for Science and Technology Innovation Enterprises

Jiang Yu, chairman of Huatai United Securities Co., Ltd.

Everything is Enough to take Advantage of the East Wind

Zhang Jingjing, partner of KPMG

At present, the problem of disconnection between high-tech innovation and industrialization is still prominent in the country, and high-tech industrialization is a major systematic project that requires support from various aspects. Among them, the support of finance (especially direct finance) has always played an irreplaceable role and is the core driving force to promote the upgrading of the real economy and lead the development of high quality.

How to fully move and give full play to the capital boost in capital science and technology innovation and development? This forum closely follows the international and domestic scientific and technological innovation frontiers and hot spots and invited guests such as Pan Xuexian, chief supervisor of Shanghai Stock Exchange, Yang Zhihua, chief supervisor of Shenzhen Stock Exchange, Xu Ming, general manager of National Equities Exchange and Quotations, Xu Chunmeng, chief representative of Beijing Representative Office of Hong Kong Stock Exchange, Chen Qing, China vice chairman and head of Singapore Stock Exchange, Laura Citron, chief executive officer of London & Partners Limited, Jiang Yu, chairman of Huatai United Securities Co., Ltd., Zhang Jingjing, partner of KPMG, etc. And focuses on the core positioning of the construction of the Beijing Science and Technology Center for Financial Services, the core objectives of modern financial industry that match the status of the capital of major countries, strengthens the multi-level capital market system and the construction of the financial ecological environment, enhances Beijing's financial market resource allocation capacity, and the opportunities and challenges it faces in the future. The important role of multi-level capital market in the development of science, technology and technology in the capital and the high-quality growth of scientific and technological enterprises is a brainstorming point, and it discusses and perfects the multi-level capital market system and constructs the important measures of the financial ecological environment of capital science and technology enterprises.

Roundtable Dialogue

From left: Duan Hongwei, Li Xudong, Cheng Jiuyan, Chen Qing, Xie Yi, Pan Duansheng, Huang Libo, Lin Changqing

In the round-table dialogue segment chaired by Duan Hongwei, executive director of Beijing Zhongguancun Finance Group, Xie Yi, director of Asia Pacific region for London Stock Exchange, Chen Qing, managing director of SVB Financial Group, senior director of China, Cheng Jiuyan, executive director of Beijing Equity Trading Center Co., Ltd., Li Xudong, managing director of Investment Bank of China Securities Co., Ltd, Pan Duansheng, president of Beijing Zhongguancun sub-branch of ICBC, Lin Changqing, partner of Cornerstone Capital and Hotgen Biotech Co.,Ltd also shared and exchanged ideas on "capital drive and technological innovation" across borders. Highlights were outstanding, brilliant and more sparks of ideas produced.

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