Yan Qingmin, vice chairman of the China Securities Regulatory Commission, revealed in Beijing on the 28th when attending the “2020 Annual Meeting of the Chinese Society of Finance” that at present, the number of listed companies in China has reached 4,100, ranking third in the world, covering all 90 industry categories of the national economy Although the number of companies accounts for only one ten thousandth of the total number of enterprises in the country, the total profit is equivalent to about 50% of the regulated enterprises.
Yan Qingmin pointed out that under the epidemic, listed companies, as the industry “vanguard”, have achieved “second quarter red” and “three quarter advance” in their operating performance, and the role of the backbone of the industrial powerhouse has become more prominent.
Yan Qingmin said that the capital market helps build a new development pattern, and high-quality listed companies are the micro foundation. Under the new development pattern of “dual cycle”, to improve the quality of listed companies in China, it is necessary to focus on the national industrial policy guidance, transform from factor-driven to innovation-driven, form a listed company industrial structure that matches the new development pattern, and promote technology, capital, and High-level circulation of the real economy.
He pointed out that to improve the quality of listed companies in China, on the one hand, it is necessary to make a fuss about expanding the increment, steadily implement the registration system in the whole market, and improve the industrial advancement of listed companies from the source; on the other hand, it is necessary to optimize the inventory. Work hard to support listed companies to eliminate inefficient supply, clear out backward production capacity, accelerate the transformation from traditional industries to emerging industries, from low-end manufacturing to high-tech manufacturing, and improve core competitiveness.
Yan Qingmin particularly emphasized that enhancing the effectiveness of governance is the key to the high-quality development of listed companies. As a public company, a listed company has a crucial issue of governance. Without effective governance, it cannot become a “century-old shop.” He said that to promote the formation of effective checks and balances of corporate governance, it is necessary to work hard on the “three outstanding”. The first is to highlight rules and supervision, the second is to highlight classification promotion, and the third is to highlight governance practices.