Many aspects“Increase revenue and reduce expenditure”Easing corporate w88 online sports betting difficulties

(Source: Securities Daily Date:2014-08-23）

Solving the problem of difficult and expensive w88 online sports betting for small and micro enterprises has become one of the core issues in China's comprehensive deepening of the financial system reform. Only by effectively playing the role of financial services in the economy and effectively reducing the w88 online sports betting costs of small and micro enterprises can the vitality of small and micro enterprises be stimulated and the national economy usher in new growth points.

　　We cannot let small and micro enterprises become a stagnant pool of water

Small and micro enterprises are the vitality and potential of economic development. They play an important role in the national economy in increasing employment, increasing people's income, and promoting the optimization of the economic structure. Small and micro enterprises account for the vast majority of the number of enterprises in my country. Providing a more relaxed w88 online sports betting environment for these enterprises is related to whether China's economic growth model can successfully transform and upgrade, and is related to social stability and people's well-being. Due to the lack of high-quality mortgage guarantees, small and micro enterprises often find it difficult to obtain funds from banks. This not only inhibits the positive role of small and micro enterprises in activating the economy, but also accelerates the spread of private loan sharking, laying hidden dangers for economic development. Therefore, efforts to solve the w88 online sports betting problems of small and micro enterprises are not only needed to adjust the structure and stabilize growth during the period of economic transformation, but also to prevent and control financial risks and maintain the smooth operation of the economy.

Small and micro enterprises have smaller w88 online sports betting needs, and banks’ lending costs are higher than that of large enterprises. Therefore, out of profit maximization considerations, it is difficult for commercial banks to meet the w88 online sports betting needs of small and micro enterprises.

At present, the w88 online sports betting threshold for small and micro enterprises in the capital market is still high. The total assets of small and micro enterprises are small and the management is not standardized. It is difficult to meet the conditions for listing on the main board and GEM. The New Third Board has not yet matured and transactions are not very active. The issuance of bonds also has high requirements for enterprises, and the approval procedures are very strict. Private equity and venture capital funds lack effective channels to understand the situation of small and micro enterprises. Overall, w88 online sports betting for small and micro enterprises is still very limited.

In addition, there are many charging departments and charging items involved in the w88 online sports betting process of small and micro enterprises. Generally, it is difficult for small and micro enterprises to enjoy preferential interest rates. Data shows that after taking into account their credit status and credit costs, commercial banks' loans to small and micro enterprises are usually based on the base interest rate.30About 11025_11052|%, coupled with implicit constraints such as "deposit-to-loan", the loan interest rate is as high as20%, and the lending interest rate of small loan companies is the official interest rate4times, plus audit fees, capital verification fees, consulting fees, etc., the interest rate of small loans usually exceeds30％。

Reducing the w88 online sports betting costs of small and micro enterprises has become an urgent issue in today's reform.

　　Ease w88 online sports betting difficulties: increase revenue and reduce expenditure

If corporate w88 online sports betting is compared to a reservoir, then the best way to prevent this capital pool from drying up is to "increase revenue and reduce expenditure". On the one hand, it is necessary to inject more water into the pool, that is, to actively expand the w88 online sports betting channels for enterprises; on the other hand, it is necessary to reduce the loss and waste of water, that is, to reduce the economic costs paid by enterprises when raising funds.

The foundation of "open source" lies in building a multi-level capital market, enriching financial supply, and providing diversified equity instruments and debt instruments for corporate w88 online sports betting. Improve and develop the main board market, the small and medium-sized board market, the GEM market, and the new third board market. Regional equity markets, as well as private equity investment funds and venture capital funds, meet the equity w88 online sports betting needs of enterprises in different life cycles; enrich and promote corporate bonds and corporate bonds, such as small and medium-sized enterprise private placement bonds, small and medium-sized enterprise collective bonds, etc., lower the threshold for corporate debt issuance, build a complete bill circulation market, and provide w88 online sports betting companies with more abundant channel choices.

For indirect w88 online sports betting, "saving expenditures" means lowering loan interest rates and eliminating hidden costs such as linking deposits and loans. For direct w88 online sports betting, the focus of "saving money" is to reduce unreasonable administrative service fees, improve regulatory efficiency, and reduce the w88 online sports betting burden of enterprises.

　　The securities market should comprehensively deepen reforms

In order to implement the "vigorous development of direct w88 online sports betting" and "shortening the corporate w88 online sports betting chain" emphasized in the "Ten National Articles", the reform direction of the securities market is also very clear:

Promptly promote the reform of the stock issuance registration system, explore and form a stock issuance and listing system arrangement that is in line with my country's national conditions, market-oriented, responsible, and powerful in supervision, and at the same time streamlineIPOThe approval process for issuance business and asset securitization business effectively reduces corporate w88 online sports betting costs and creates a good policy environment for companies to issue stock w88 online sports betting.

Accelerate the development of the Growth Enterprise Market and the National Equities Exchange and Quotations for Small and Medium-sized Enterprises, lower the threshold for companies that are not yet profitable but have good development prospects, and continue to improve the transfer mechanism to support New OTC listed companies with excellent performance to be listed on the Growth Enterprise Market and even the main board. In addition, it is necessary to accelerate the development of market makers, agreement transfer and other trading methods, activate New OTC Market transactions, and improve the efficiency of capital operations.

Vigorously cultivate the private equity market, establish and improve the regulatory system of private equity investment funds, and further promote the development of private equity and venture capital funds.

Inspect the asset management, direct investment, financial management and other businesses of securities companies, as well as the business of fund company subsidiaries, clean up unnecessary links, shorten the w88 online sports betting chain, and strengthen direct connection with the real economy.

Expand the scope of corporate bond issuance entities, enrich bond issuance methods, and expand the issuance scale of various corporate debt w88 online sports betting instruments for small and medium-sized enterprises. In addition, we should actively cultivate institutional investors in the exchange bond market and enhance the w88 online sports betting capabilities, professional capabilities and risk resistance capabilities of the exchange bond market.

Actively develop credit assets and corporate asset securitization, and revitalize the capital stock. Reduce administrative approval procedures and support eligible asset securitization products to be issued and listed on stock exchanges.

　　OTC market construction is the key point

The key to increasing revenue and reducing expenditure for small and micro enterprises through the capital market is the improvement and construction of the over-the-counter market. Accelerating the development of a multi-level capital market system, especially the establishment of an OTC market suitable for equity w88 online sports betting and debt w88 online sports betting of small, medium and micro enterprises, is the only way to solve the problem of low direct w88 online sports betting proportion and narrow channels for small and micro enterprises. The over-the-counter markets currently recognized by regulators and the industry include the "third board market" (i.e., the National Equities Exchange and Quotations) and the "fourth board market" (regional equity markets). Different from the main board market and the GEM market, the main service targets of the National Share Transfer System and the regional equity market are concentrated on small, medium and micro enterprises. The listing threshold is greatly lowered, and certain restrictions and regulations have been made on transaction methods, transaction scope and qualified investors, which can meet the w88 online sports betting needs of small and micro enterprises while controlling risks.

After more than 20 years of development, my country's securities market has made certain progress in the construction of a multi-level system and market structure, and has initially formed a market system with certain levels of differentiation composed of large blue-chip enterprises and more innovative and growth-oriented small and medium-sized enterprises such as the Shenzhen SME Board and GEM.

But what cannot be ignored is that there are still some unreasonable aspects in this market system. Many potential growth-oriented small, medium and micro enterprises have been turned away by the capital market because their scale or profit level does not meet the requirements. This is mainly due to the fact that the market entry threshold is high in the established policies and the regulatory authorities have not created a suitable growth environment for small and micro enterprises.

Therefore, the capital market should continue to improve its functions, enrich its levels, and give full play to the investment and w88 online sports betting functions of the capital market. Particular attention should be paid to weak areas of economic and social development such as small and micro enterprises and rural areas, so as to provide more comprehensive services for the development of the real economy and provide equity and bond w88 online sports betting for small and micro enterprises at different stages of development, especially those in the early entrepreneurial stage.

In addition, it is necessary to further establish and improve the regulatory system for unlisted public companies to support activities such as equity w88 online sports betting, share transfer, and asset restructuring of small and micro enterprises. Actively guide private equity investment funds and venture capital funds to invest in small and micro enterprises. At the same time, we will implement tax concessions for small and micro enterprises, reduce w88 online sports betting costs, and take multiple measures to promote the w88 online sports betting development of innovative and growing small and micro enterprises.

Attachment: Original report link

http://zqrb.ccstock.cn/html/2014-08/23/content_16632.htm