To further broaden financing channels for the real economy, comprehensively accelerate the pace of local enterprises listing on multi-tiered capital markets, and promote high-quality economic development across the district, this Action Plan has been formulated in accordance with the actual conditions of our district.
I. Guiding Principles
Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will fully implement the spirit of the 19th National Congress of the Communist Party of China, the Third, Fourth, and Fifth Plenary Sessions of the 19th Central Committee, and the important speeches and instructions made by General Secretary Xi Jinping during his inspection tours of Anhui and Ma’anshan, as well as the spirit of national, provincial, and municipal financial work conferences. We will integrate the promotion of enterprise listings with enhancing regional competitiveness, developing strategic emerging industries, establishing modern enterprise systems, and building a high-quality team of entrepreneurs. We will continuously strengthen enterprises’ competitiveness and risk-resilience, and continuously improve their ability and level of financing in the capital markets,strive to open up new prospects for financial work, and promote the healthy and rapid economic and social development of the entire district.
II. Objectives and Tasks
(1) Overall Objective
Actively implement the initiative to cultivate listed enterprises, with the promotion of economic transformation and upgrading and the establishment of sound modern corporate systems as the main focus, and with the expansion and strengthening of the real economy as the key priority, striving to encourage enterprises to leverage the capital market to improve and strengthen their operations.From 2021 to 2023, we aim to add 1–2 new domestic and overseas listed companies, 3 companies listed on the National Equities Exchange and Quotations (NEEQ), and 5 companies listed on regional equity trading markets and undergoing restructuring across the district; establish a reserve pool of at least 60 companies eligible for listing or listing on trading markets, and implement dynamic management in response to changes in national capital market policies and the actual conditions of enterprises to promote the sustainable development of the district’s corporate listing efforts.
(2) Annual Plan
In 2021, we aim to achieve the listing of 1 new company on the NEEQ and the listing and restructuring of 1 company on a regional equity trading market; we will also preliminarily establish a reserve pool of prospective listing candidates comprising no fewer than 40 enterprises.
In 2022, we aim to achieve 1–2 new companies registered for IPO guidance, 1 company listed on the NEEQ, and 2 companies listed on regional equity trading markets and restructured; we will establish a reserve pool of at least 50 companies preparing for listing and maintain it continuously.
In 2023, we aim to achieve 1–2 new domestic and international listings, 1 new listing on the NEEQ, and 2 companies listed on regional equity trading markets that have undergone restructuring; we will establish a pool of at least 60 prospective companies for listing and will continuously maintain and refine this pool.
III. Key Tasks
(1) Strengthen Publicity and Guidance on Listing and Quotation
Conduct in-depth promotional and guidance activities in various forms; increase the promotion and use of the “Shanghai Stock Exchange Open Course” brand’s online learning platform; amplify the “demonstration effect” of already listed and listed companies; and foster a favorable atmosphere for listing and listing.Conduct an annual specialized training session on capital operations featuring diverse formats, levels, and perspectives. Timely communicate the latest requirements and developments in the capital markets, strengthen “one-on-one” guidance, and lead enterprises in learning about, understanding, and utilizing the capital markets. Help entrepreneurs enhance their capabilities and build confidence, effectively addressing the issues of enterprises being “unwilling to list,” “afraid to list,” or “unable to list.”Actively collaborate with securities firms and other intermediary institutions, as well as expert teams, to help enterprises cultivate and recruit senior talent familiar with financial and securities operations. This will establish a high-caliber workforce that is well-versed in the securities market, proficient in listing procedures, and knowledgeable about relevant laws and regulations.
Responsible Units: Finance Bureau (Local Financial Regulatory Bureau), Science and Technology Bureau, the Three Towns, High-Tech Zone, and Ningbo New Functional Zone
(2) Optimizing and Improving the Pool of Potential Listing Candidates
In line with the region’s key industrial development goals, we will focus on industry-leading enterprises that align with industrial policy directions and have a distinct core business, as well as high-tech enterprises and technology-based small and medium-sized enterprises (SMEs) that feature high technological content, possess independent intellectual property rights, and demonstrate strong growth potential. Through industry recommendations and regular surveys, we will identify a group of enterprises that meet the basic conditions for listing and have the intention to list, and include them in the listing reserve pool. Based on the operational status, development trends, and comprehensive assessment of enterprises in our district, we will eliminate some and admit others.The reserve enterprise database will be updated annually, and enterprises within the database will be subject to categorized management, dynamic monitoring, and follow-up services.
Responsible Units: Finance Bureau (Local Financial Regulatory Bureau), Science and Economy Bureau, Culture, Tourism, and Sports Bureau, Market Regulation Bureau, Development and Reform Commission, Agriculture, Rural Affairs, and Water Resources Bureau, Transportation Bureau, Tax Bureau, the Three Towns, High-Tech Zone, Ningbo New Functional Zone, Hengwang Holding Group, and various financial institutions, etc.
(3) Promoting Standardized Shareholding Reform Among Market Entities
Intensify efforts to advance the “small-to-medium, medium-to-shareholding, and shareholding-to-listing” initiative; deepen the cultivation of scale enterprises, high-tech enterprises, and specialized, refined, distinctive, and innovative enterprises; accelerate the “Leading Enterprise” cultivation plan; guide competitive enterprises to focus on niche product markets; expedite technological innovation, quality improvement, and brand development; encourage leading enterprises to accelerate the integration of key industrial chain resources through mergers and acquisitions and optimization of industrial layouts; and foster a cohort of manufacturing single-champion enterprises and “Little Giant” enterprises,and enterprises with annual operating revenues exceeding 100 million, 500 million, and 1 billion yuan. Establish a list of enterprises to be restructured into joint-stock companies, categorized by industry and tier. Through policy support and consultation forums, provide targeted guidance and promote the implementation of shareholding restructuring for enterprises listed as candidates for listing or trading. Cultivate a group of high-quality, compliant market entities, and encourage and guide newly established market entities with a strategic focus on listing or trading to register as joint-stock companies from the outset.All relevant units shall establish “green channels,” streamline procedures, and optimize services, adopting a “special cases handled specially, urgent matters handled urgently” approach. They shall assist enterprises in resolving historical legacy issues encountered during restructuring, listing, and going public—such as project approvals, tax and fee payments, land and property rights confirmation, equity disputes, social security matters, reissuance of certificates and licenses, and administrative licensing inconsistencies—and shall issue relevant certification documents or situation explanations in a timely manner in accordance with laws and regulations. Efforts shall be made to achieve “contactless approval” andcompletion within 3 to 5 working days, thereby effectively reducing the costs associated with standardization and restructuring for enterprises.
Responsible Units: Finance Bureau (Local Financial Regulatory Bureau), Science and Economy Bureau, Culture, Tourism, and Sports Bureau, Agriculture, Rural Affairs, and Water Resources Bureau, Market Regulation Bureau, Tax Bureau, Statistics Bureau, Bowang Branch of the Municipal Bureau of Natural Resources and Planning, Ecological Environment Branch, the Three Towns, High-Tech Zone, Ningbo New Functional Zone, etc.
(IV) Providing Categorized Guidance to Promote Listings and Quotations
Based on the distinct characteristics and requirements of domestic and international multi-tiered capital markets, and in conjunction with enterprises’ specific conditions and strategic development needs, we will encourage various types of enterprises to list on appropriate market segments, thereby forming a rational development pipeline for enterprise listings. We will actively promote leading enterprises with large business scale, strong comprehensive strength, and a leading position in their domestic industries to list on the Main Board; support high-tech enterprises with strong growth potential to list on the Growth Enterprise Market (GEM) or the STAR Market; and encourage innovative and entrepreneurial enterprises to list on the “New Third Board”;Encourage and guide small and micro enterprises that do not yet meet the conditions for listing but possess development potential to connect with the Provincial Equity Custody and Trading Center, comprehensively utilizing various financing tools to accelerate development and create conditions for transferring to a higher tier or going public; for export-oriented enterprises or those with new business models and formats that do not yet meet domestic listing requirements, guide them to list overseas, particularly on the Hong Kong Stock Exchange.For enterprises that have preliminarily met the conditions for listing or registration, guide them in establishing internal listing task forces, assist in introducing high-quality intermediary institutions, and initiate listing or registration plans as soon as possible; for enterprises that have formally signed contracts with intermediary institutions and have substantively commenced listing preparations, guide them in working closely with these institutions to formulate listing work plans and shareholding restructuring schemes, carry out restructuring work, identify issues against listing requirements, and propose targeted, reasonable, and effective solutions;For enterprises that have entered the IPO tutoring phase, strengthen communication and coordination with higher-level departments, the Provincial Securities Regulatory Bureau, and the participating tutoring intermediaries; urge intermediaries to improve the quality of their tutoring services, resolve issues in a timely manner, expedite the preparation of application materials, and carefully schedule the submission deadlines.
Responsible Units: Finance Bureau (Local Financial Regulatory Bureau), Science and Economy Bureau, Culture, Tourism, and Sports Bureau, Agriculture, Rural Affairs, and Water Resources Bureau, Market Regulation Bureau, Bowang Branch of the Municipal Natural Resources and Planning Bureau, Ecological Environment Branch, the Three Towns, High-Tech Zone, Ningbo New Functional Zone, etc.
(5) Increase Investment in Various Funds
Actively seek special guidance funds from higher-level authorities. When departments such as Development and Reform, Finance, Science and Technology, Economy and Information Technology, Commerce, and Agriculture and Rural Affairs apply to higher-level authorities for major science and technology special projects, various other science and technology projects, special funds for SME development, fiscal interest subsidies for government bond projects, and other project funds, or when arranging various special funds, they shall, under equal conditions, give priority to supporting eligible pre-IPO enterprises.The district finance department shall allocate policy-based support funds in the annual budget each year. Government equity investment guidance funds shall prioritize support for key prospective enterprises that meet the basic conditions for listing. We will fully leverage the leverage effect of fiscal funds and the guiding role of government industrial funds to enhance the level of market-oriented and professional operations as well as the vibrancy of investment and financing activities. We will attract high-quality venture capital firms, private equity firms, futures companies, industrial investment funds, and other capital market-related institutions to establish operations in the district, and guide various private equity investment funds and other institutions to actively support the restructuring and listing of enterprises in our district.
Responsible Units: Hengwang Holding Group, Development and Reform Commission, Finance Bureau (Local Financial Regulatory Bureau), Science and Technology Bureau, Agriculture, Rural Affairs, and Water Resources Bureau, the Three Towns, High-Tech Zone, Ningbo New Functional Zone, etc.
(6) Improve the Financial Service Matching Mechanism
Regularly organize intermediary institutions, expert teams, and relevant units to provide “one-on-one” tracking and guidance services for listing and stock exchange registration through door-to-door visits and surveys, helping enterprises improve internal controls, standardize business operations, and shorten the listing and registration process.Encourage multiple banking institutions to jointly implement a joint credit facility system, providing long-term, stable, and closer bank-enterprise financing services to potential listed companies. Support financial institutions within the district, under the premise of controllable risks, in formulating comprehensive financing plans for potential listed companies, conducting flexible and diverse combination financing, and providing financial services such as unsecured loans, intellectual property pledge loans, guaranteed loans, M&A loans, and trade financing, while giving priority to recommending applications for corporate bond issuance.Actively promote cooperation between banks and guarantee institutions to develop business lines such as on-lending and guaranteed loans primarily targeting pre-IPO enterprises. Provide credit enhancement support for financing to enterprises included in the pre-IPO resource pool, with financing guarantee rates capped at 1.2%.Strengthen information exchange and learning collaboration with stock exchanges such as the Shanghai Stock Exchange and regulatory bodies like the China Securities Regulatory Commission (CSRC) to stay abreast of the latest policy trends in the capital markets. Establish a regular communication mechanism to actively seek guidance and support from higher-level departments and stock exchanges regarding the restructuring and listing of enterprises in our district, thereby creating conditions to enhance the success rate of listings.
Responsible Units: Finance Bureau (Local Financial Regulatory Bureau), the Three Towns, High-Tech Zone, Ningbo New Functional Zone, Hengshan Financing Guarantee Company, and all financial institutions
(7) Enhancing the Quality of Listing and Quotation Services
Establish a collaborative working mechanism for enterprise listing and trading led by the District Finance Bureau (Local Financial Regulatory Bureau), with participation from relevant departments and organized by securities firms and related professional teams. For enterprises that have paid relevant advisory fees to intermediary institutions and have formally initiated the listing process, implement a “tailored approach for each enterprise.”All relevant units must strengthen their service awareness and sense of responsibility. While strictly adhering to laws and regulations, they shall prioritize support for enterprises in the database regarding industrial policies, technology commercialization, and investment and financing. For issues encountered by enterprises during restructuring and the IPO/listing process—such as property title transfers, land use guarantees, safety and fire protection, taxation, environmental protection, and social security—they shall proactively provide on-site guidance and solutions to ensure effective supervision, guidance, and support.Departments including Public Security, Justice, Human Resources and Social Security, Natural Resources, Ecology and Environment, Emergency Management, Market Regulation, and Taxation shall, in accordance with laws and regulations, strengthen communication with enterprises regarding administrative penalties and the resolution of disputes related to intellectual property, labor, and personnel matters involving enterprises within the district that are preparing for listing or public offering. They shall handle such matters appropriately and establish a list of minor violations exempt from penalties.
Responsible Units: Finance Bureau (Local Financial Regulatory Bureau), Science and Technology Bureau, Public Security Sub-bureau, Justice Bureau, Human Resources and Social Security Bureau, Bo Wang Sub-bureau of the Municipal Bureau of Natural Resources and Planning, Sub-bureau of the Ecology and Environment Bureau, Emergency Management Bureau, Market Regulation Bureau, Tax Bureau, People’s Court, the three towns, High-Tech Zone, Ningbo New Functional Zone, etc.
IV. Policy Support
(8) Support enterprises in standardizing their shareholding restructuring. If enterprises face genuine difficulties in paying value-added tax, corporate income tax, or individual income tax due to restructuring, they may apply to the tax authorities for a deferral of tax payments in accordance with statutory procedures; upon approval, payment of the relevant taxes may be temporarily deferred within the prescribed period;If small and medium-sized high-tech enterprises convert undistributed profits, retained earnings, or capital reserves into share capital for individual shareholders, and such shareholders face genuine difficulties in making a one-time payment of individual income tax, they may pay in installments over a period not exceeding five calendar years, based on actual circumstances.When enterprises, in the course of asset restructuring, transfer all or part of their tangible assets, along with associated claims, liabilities, and labor, to other entities or individuals through means such as mergers, divisions, sales, or exchanges, the transfer of goods, real estate, and land use rights involved shall not be subject to value-added tax;Enterprises that comply with relevant tax regulations during restructuring, external investment of non-monetary assets, or asset transfers may apply special tax treatment to defer or temporarily suspend the recognition of income (or losses); Individuals receiving income from eligible equity incentive plans of listed companies may, upon filing with the competent tax authorities, pay individual income tax within a period not exceeding 12 months from the date of stock option exercise, restricted stock vesting, or receipt of equity awards.
(9) Exemptions and reductions of fees for relevant administrative services.Where enterprise restructuring involves the transfer of property rights—such as land use certificates, property ownership certificates, vehicle and vessel use certificates, water supply and drainage quotas, power supply quotas, qualification grades, and proprietary industrial property rights—and there is no change in the company’s actual controller or controlling shareholder, such transfers shall be treated as registration amendments, and fees for amendment and transfer procedures shall be waived; where property rights certificates have not been obtained due to historical reasons but there is no dispute, such certificates shall be supplemented in accordance with the law and included in the enterprise’s assets, with all applicable fees charged strictly at the prescribed minimum rates.
(10) Reduce the cost of enterprise listing.In addition to provincial and municipal-level rewards, the district government will provide a one-time subsidy of 2 million yuan to enterprises that successfully list on the Shanghai or Shenzhen stock exchanges. Enterprises are encouraged to pursue standardized development through listing on the “New Third Board.” Specifically: enterprises that successfully list on the “New Third Board” Basic Tier will receive a one-time subsidy of 200,000 yuan from the district government; enterprises that successfully list on the “New Third Board” Innovation Tier will receive a one-time subsidy of 300,000 yuan from the district government;enterprises that list directly on the “New Third Board” Innovation Tier will receive an additional one-time grant of 500,000 yuan from the district treasury; enterprises that successfully list on the “New Third Board” and are first admitted to the Select Tier will receive an additional one-time grant of 500,000 yuan from the district treasury; for enterprises that successfully transfer from the “New Third Board” Select Tier to a main board listing, the full reward will be granted in a lump sum in accordance with the listing standards.
(11) Encourage enterprises to list overseas or pursue restructuring-based listings. For enterprises that complete an IPO on major overseas capital markets and whose operational entity and tax obligations are based in our district, a one-time reward will be granted after a successful listing, based on domestic listing standards (limited to the local contributions made in the two years prior to listing).For enterprises within the district that list on the domestic A-share market through a “shell acquisition” or “backdoor listing” in another location in accordance with regulations, and subsequently relocate their registered office and tax registration back to our district, a reward equal to the amount granted for a domestic listing will be provided. For enterprises that relocate an A-share listed company from another region to our district, this will be treated as a domestic initial public offering, and a reward equal to the amount granted for a domestic listing will be provided.
(12) Encourage enterprises to list on the provincial regional equity market and undergo restructuring. For enterprises listed on the Science and Technology Innovation Board of the Provincial Equity Custody and Trading Center that have completed restructuring, the district government will provide a one-time subsidy of 100,000 yuan in addition to provincial and municipal-level rewards. (For enterprises already listed on the Provincial Equity Custody and Trading Center that complete restructuring after the implementation of this action plan, the reward will be supplemented in accordance with the standards of this item.)
(13) Actively guide intermediary service resources. By combining cultivation with introduction, we will build a team of third-party intermediary institutions characterized by strong professionalism, excellent service, and high standards. We will attract capital market-related financial institutions with independent legal person status—such as securities companies, futures companies, and public fund management companies—to establish operations in our district. In addition to provincial and municipal-level rewards, the district government will provide a one-time settlement incentive of 500,000 yuan to securities companies and public fund management companies established with the approval of the China Securities Regulatory Commission;and legal-person futures institutions, the district government will provide an additional one-time settlement incentive of 300,000 yuan.
(14) Priority Consideration for Project Land Allocation and Approval. For pre-IPO enterprises acquiring land use rights through land grants, the Department of Natural Resources and Planning shall promptly process relevant land use and real estate registration procedures. For projects undertaken by pre-IPO enterprises using raised capital to construct or expand facilities that comply with national industrial policies, the departments of Development and Reform, Natural Resources and Planning, and Ecology and Environment shall provide preferential policies and technical support in all aspects, including project approval, land quota allocation, and environmental impact assessment approval.
(15) Other Matters. Enterprises that have already benefited from this policy shall not receive duplicate rewards for the same matter. If an enterprise relocates its registered address or tax payment location outside the district, or if the enterprise’s primary production and operation location is no longer within the district due to circumstances such as a backdoor listing by an enterprise from outside the district, all fiscal rewards granted under this policy shall be revoked or recovered. Upon the implementation of this policy, all relevant previous incentive and subsidy policies shall be simultaneously repealed.
V. Work Guarantees
(16) Strengthen Organizational Leadership. A District Leading Group for Promoting Enterprise Listing and Quotation shall be established, with the principal leader of the District Government serving as the Group Leader, the Executive Deputy District Head as the Deputy Group Leader, and the principal responsible officials of relevant departments as members. The Office of the Leading Group shall be located within the District Finance Bureau (Local Financial Regulatory Bureau), responsible for coordinating and advancing the daily work related to enterprise listing and quotation across the district.
(17) Improve Working Mechanisms. All relevant units shall establish a dedicated tracking mechanism, designate specific personnel to handle matters related to their unit’s responsibilities during the enterprise restructuring, listing, and registration process. A leadership accountability system for prospective listed and registered enterprises shall be established to provide full-process support for listing and registration services, and to promptly coordinate and resolve difficulties and issues encountered by enterprises during restructuring, guidance, and the listing and registration process.
(18) Conduct Regular and Targeted Coordination. A coordination meeting shall be convened quarterly to report on the progress of enterprise listing and registration efforts across the district, deliberate and decide on major matters related to such work, establish a list of assigned issues, clarify departmental responsibilities, and actively coordinate and track solutions to alleviate the burden on enterprises during the listing and registration process.
(19) Strengthen performance evaluation. Reinforce the territorial responsibility system by incorporating the promotion of enterprise listings into the annual performance evaluations of departments and various platforms. Emphasis will be placed on the enterprise database, shareholding restructuring, the “green channel,” and listing activities to ensure the orderly advancement of all tasks.
Attachment: List of Members of the Bowang District Leading Group for Promoting Enterprise Listings and Quotation
Attachment
List of Members of the Bowang District Leading Group for Promoting Enterprise Listings and Quotation
To further advance the work of promoting enterprise listings and stock exchange listings across the district, and to strengthen organizational leadership, coordination, and performance evaluation in this area, it has been decided, after careful consideration, to establish the Bowang District Leading Group for Promoting Enterprise Listings and Stock Exchange Listings. The specific list of members is as follows:
Group Leader: Ma Yong, Deputy Secretary of the District Party Committee and District Governor
Deputy Group Leader: Zhou Ji, Member of the District Party Committee Standing Committee and Executive Deputy District Governor
Members: Zhang Jun, Director of the District Bureau of Science, Technology, and Economy
Sheng Houbin, District People’s Court
Wang Wei, District Government Office
Jia Hucheng, District Development and Reform Commission
Zhao Zuotao, District Bureau of Justice
Xu Hong, District Finance Bureau
Dai Jing, District Human Resources and Social Security Bureau
Yan Jun, District Housing and Urban-Rural Development Bureau
Li Quan, District Transportation Bureau
Liu Binghua, District Bureau of Agriculture, Rural Affairs, and Water Resources
Zhang Jiuxiang, District Bureau of Culture, Tourism, and Sports
Zhu Zhangfa, District Emergency Management Bureau
He Lei, District Market Regulation Bureau
Yao Xiaoping, District Investment Promotion Center
Qin Jun, Bowang Public Security Sub-bureau
Sun Song, Bowang Branch of the Municipal Bureau of Natural Resources and Planning
Cheng Gang, District Ecological Environment Branch
Liu Zhengfa, District Tax Bureau
Huang Qiang, Bowang Town
Zhu Yunting, Danyang Town
Fang Xinglong, Xinshi Town
Wang Muying, Ningbo New Functional Zone
Chen Tao, High-Tech Zone Administrative Committee
Chen Yun, Hengwang Holding Group
The Leading Group Office is located within the District Finance Bureau (Local Financial Regulatory Bureau) and is responsible for the Leading Group’s day-to-day operations. Comrade Xu Hong serves as Director of the Office, and Comrade Cheng Qiuping serves as Deputy Director.
