Zibo, where Yiyuan County is located, is the earliest area in China to carry out the shareholding system reform, the location of Zibo quotation system, a well-known over-the-counter market in China at that time, and the most important and powerful area for Shandong enterprises to go public in recent years. According to the local people, it is this geographical environment that breeds the "Yiyuan phenomenon"; "Yiyuan phenomenon" is also called "Zibo phenomenon".
These listed companies, which now constitute the "Yiyuan phenomenon", are small and medium-sized enterprises that have developed in a difficult environment. The development of small and medium-sized enterprises, the most difficult is the issue of funds, which is also the situation today. At that time, the financial support system for the growth of small and medium-sized enterprises did not exist, and the shareholding system was of great significance to the financing of small and medium-sized enterprises. The joint-stock system reform has enabled the company to obtain much-needed development funds, and also cultivated the awareness of using the capital market, sowing the seeds for the company's listing. Shandong Yao Bo and Luyang Co., Ltd. are the earliest enterprises in Yiyuan County and Zibo City to carry out joint-stock reform.
In the tide of Zibo's shareholding system reform, the automatic quotation system of Zibo Stock Exchange was formally established on 1993, which is actually what we now call OTC market. This market is mainly engaged in the stock trading of local companies in Zibo, such as Shandong Pharmaceutical Glass, which have completed the shareholding system reform. Although it has been thoroughly cleaned up according to the national requirements, its shareholding system is deeply rooted in Zibo. "Shandong Yao Bo" was listed on the Shanghai Stock Exchange in 2002, becoming the "first crab eater" in Yiyuan County. In 2005, "Ruiyang Pharmaceutical" was successfully listed in Singapore; In 2006, "Luyang Shares" was also listed on the Shenzhen Stock Exchange. These are inseparable from the nurturing function of Zibo's quotations. In recent years, Zibo has also become one of the model areas of the province's shareholding system reform and enterprise listing.
The characteristics of China's industrial transformation determine that enterprises face higher hidden listing costs, and enterprises often encounter problems in land and taxation when entering the capital market. Therefore, it is very important for the government to strongly support and promote the listing of enterprises.
Zibo took the lead in formulating the Opinions of Zibo Municipal People's Government on Accelerating the Listing of Enterprises, and launched eight measures to promote the listing of small and medium-sized enterprises: the one-time transfer fees for land, real estate, vehicles and other warrants in the listing process of listed companies are only charged according to regulations, and intangible assets such as water rights and electricity rights of enterprises are transferred free of charge; In the process of restructuring listed enterprises, if the original administrative allocation is converted into allocation, part of the land transfer fee will be returned, and if the application for new land needs to go through the formalities, it will be charged according to the minimum standards stipulated by the municipal government; A company to be listed with listing declaration conditions may be given tax preference after profit adjustment; The part of the retention tax paid one year before listing shall be returned in the form of financial subsidies; Companies to be listed will give priority to pre-examination, declaration or examination and approval procedures when investing in new projects that conform to the national industrial policies, and self-built productive construction projects will be exempted from relevant fees; Technical transformation, innovation and other special funds give priority to supporting qualified listed companies; Further implement the memorandum with Shenzhen Stock Exchange and do a good job in the cultivation and promotion of listed resources. These policies and measures have been applied to listed companies in all districts and counties of Zibo, including Yiyuan County.
Zibo had long known about Yiyuan phenomenon, and proposed to explore Yiyuan phenomenon and give full play to the demonstration effect. At the beginning of 2007, a special on-the-spot meeting was held for listed companies in Zibo to promote the Yiyuan phenomenon, giving full play to the demonstration and driving role of Yiyuan phenomenon.
Zhou Qingli, deputy secretary of Zibo Municipal Committee and mayor, said: "We should give full play to the demonstration effect of Yiyuan phenomenon and actively promote the listing of Zibo enterprises. Doing a good job of listing enterprises is related to the vitality and sustainable development ability of regional economic development, and also to the competitive position in regional economic development. Zibo's economic development should mainly rely on attracting foreign investment and joint-stock reform to promote the listing of enterprises, so as to realize the adjustment of industrial structure, upgrade and transform traditional industries in old industrial areas and promote new industrialization. Good opportunities in the capital market cannot be missed. In the future, Zibo should take the listing of enterprises as an important entry point for regional economic development and achieve sound and rapid economic development. "
Looking at Shandong: the Great Transcendence of Capital Market
In 2006, * * * 18 enterprises in Shandong Province achieved initial public offerings in domestic and foreign capital markets and successfully listed, ranking first among all provinces and cities in that year. In the competitiveness survey of listed companies in China Academy of Social Sciences, Shandong ranked first. At present, there are 1 1 listed companies in Shandong province (except Qingdao) under the examination of China Securities Regulatory Commission, which has become the region with more companies under examination in various provinces and cities in China. Just last weekend, Shandong Gold (600547 share price, stock bar) beat Kweichow Moutai (6005 19 share price, stock bar) and China Shipping (600 150 share price, stock bar), becoming the highest among more than 500 listed companies in Shanghai and Shenzhen stock markets.
Behind this series of phenomena, it shows that Shandong is surpassing. "Yiyuan phenomenon" is also a "Shandong phenomenon", which is the embodiment that Shandong is achieving transcendence. Some people say that Guangdong's enterprise reform is like a Santana, which has a fast start and a fast speed. In fact, it is the representative of the Southern School. Shandong's enterprise reform is more like a big truck of the Yellow River, which starts slowly, but once it goes into the process, it will be unstoppable. Shandong is characterized by a thick and simple Confucian culture, and the enterprise reform in Shandong also deduces this culture in the form of accumulating wealth, and the development of listed companies in Shandong also deduces a similar course.
Shandong has always been at the forefront of the country in the development of capital market. However, compared with Shandong's economic status and rich listing resources, it should be said that Shandong's utilization of the capital market is far from enough. This situation is changing. Shandong province has paid unprecedented attention to the development of the capital market, and will use the capital market to speed up the listing of enterprises as a new "engine" for Shandong's economic development.
In recent years, Shandong has made every effort to promote the listing of enterprises. The Shandong Provincial Party Committee and the provincial government specially convened a working meeting of mayors in charge of all cities in the province to study and promote the listing of enterprises. In order to better establish and improve the coordination mechanism, accelerate the listing and financing of enterprises in the province, and build a strong capital market, Shandong has specially established a joint meeting system for listing enterprises. In order to vigorously cultivate reserve resources, Shandong has implemented the "Thousand Hundred Ten" listing cultivation project and actively created a good policy environment. Among 16 cities in the province, Zibo, Yantai and other 1 1 cities have issued preferential policies to encourage enterprises to go public. Shandong is both active and cautious in promoting the listing of enterprises. The principle is to proceed from the reality of enterprises, not to encourage them, but to strive to make high-quality enterprises stronger through listing. This development idea not only brought about a substantial increase in the number of listed companies, but also fundamentally improved the quality of listed companies. The results of the competitiveness survey conducted by China Academy of Social Sciences, and even the performance of Shandong Gold in the secondary market, all show the quality and strength of Shandong listed companies.
As an agency of China Securities Regulatory Commission, Shandong Securities Regulatory Bureau has played an important role in actively promoting the listing of Shandong enterprises. "We should creatively do a good job in supervision and service. While strengthening the supervision of enterprise listing, we will vigorously promote the listing of enterprises in our jurisdiction, and actively explore a mode of enterprise listing supervision that combines extended services, active guidance and reminder during the event, and post-event supervision. " Yin Fengting, director of Shandong Securities Regulatory Bureau, has been engaged in restructuring and securities supervision for many years, devoted himself to the listing of enterprises, and personally went to a number of companies to be listed in Shandong, including Yiyuan County, and had a profound understanding and thinking on listing supervision.
Since 2007, Shandong Securities Regulatory Bureau has shifted the supervision focus of companies to be listed from propaganda to guidance and solution of specific problems of key enterprises, visited 16 cities and more than 60 districts and counties under its jurisdiction, and conducted 180 on-site guidance for 120 enterprises. Shandong Securities Regulatory Bureau has also established and improved the database of listed resources. According to the working idea of "paying attention to a batch, cultivating a batch and listing a batch", the listed reserve resources listed in the database are divided into key promotion categories, key cultivation categories and key attention categories, and key support is given to high-quality companies that meet the listing conditions. Shandong Securities Regulatory Bureau, in combination with the actual situation of its jurisdiction, respectively wrote research reports on matters needing attention in restructuring and main problems in counseling and acceptance, put forward ideas to solve problems, grasped the initiative of supervision, and effectively guided enterprises to go public.
There is reason to believe that Shandong's transcendence in the capital market is becoming a reality. Perhaps in the near future, "Yiyuan phenomenon" will evolve into a real "Shandong phenomenon".