On February 1, 2023, the comprehensive implementation of the stock issuance registration system reform was officially launched, which is of great significance to the stock market, and the comprehensive registration system is beneficial to certain sectors of the stock market, so the comprehensive registration system What sectors will be benefited by the comprehensive registration system?
What sectors will be benefited by the comprehensive registration system?
1. Brokerage firms
The implementation of the comprehensive registration system will benefit securities firms, and the head effect will be prominent. The investment banking business of securities companies will directly benefit. Under the comprehensive registration system, the scale of stock financing will increase significantly, driving the income of investment banking business to increase, and the concentration of investment banking business resources in leading securities companies will be obvious.
2. High-growth industries that are in line with the national strategic development direction
Based on the experience of registration systems such as the Science and Technology Innovation Board and GEM, about 96% of the current registration-based stocks are Strategic emerging industries. It is expected that in the future, comprehensive registration will still be highly centered on the national strategic development direction, focusing on nine strategic emerging industries such as new generation information technology, high-end equipment manufacturing, biomedicine, new energy, and digital creative industries.
3. Specialized, Specialized and New
Although the comprehensive registration system is not directly related to specialized and special new, from the perspective of the purpose of implementing the comprehensive registration system, it is to further enhance the direct Financing ratio, giving full play to the function of the capital market in serving the real economy, and assisting the transformation of high-quality economic development. The patent results of "little giant" companies that specialize in new technologies are significantly higher than the average level of other small and medium-sized enterprises. The emergence of a large number of "little giant" companies is conducive to solving "stuck" technical problems. However, in view of the fact that many "specialized in new technologies" "Enterprises still have the problem of financing difficulties. It is expected that after the implementation of the comprehensive registration system, it is expected that there will be tilt and support in solving the financing problems of outstanding "specialized, special and new" enterprises.
4. Financial IT, venture capital and other sectors
The comprehensive registration-based system transformation will involve securities company counter trading systems, asset management self-operated investment trading systems, ultra-fast trading systems, and legal person clearing systems, peripheral entrustment systems, and multi-party systems such as fund companies, custodian banks, and market information service providers, thus creating market space for stock transformation for securities IT manufacturers.
The registration system is the last step in clearing the way for “raising, investing, managing and exiting”, and is expected to increase the capital turnover rate of venture capital institutions and open up space for incremental performance.