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On May 31, 2018 the National Equities Exchange and Quotations Corporation Limited (NEEQ Co. Ltd.) signs a strategic cooperation agreement with China Fortune Media Group (CFM Group) in Beijing for comprehensive and practical cooperation regarding NEEQ news and public communication. Mr. Xie Geng, Secretary of the company’s CPC committee and President, and Mr. Ge Wei, Secretary of the CFM Group’s CPC committee and President attend the signing ceremony.
The cooperation between NEEQ Co. Ltd. and CFM Group marks an important step to translate into practice the strategic vision of the 19th CPC National Congress on multi-tiered capital markets development in the new era, and to meet the requirements for public communication work by the CSRC CPC Committee. The purpose is to create a positive environment for NEEQ reform and promote sound development of the multi-tiered capital markets. According to the agreement, both parties will cooperate in news publicity, data and information, think-tank consultation and corporate service, so as to tell NEEQ story well, build positive energy for NEEQ reform, provide references for decision making on market systems, and offer innovative service for listed companies, investors and other market participants and improve market environment continuously.
Mr. Xie Geng states that NEEQ is a national equity trading venue coming into operation after the 18th CPC National Congress. Since its establishment five years ago, NEEQ has explored feasible ways and innovative models to serve micro, small and medium-sized enterprises and promote supply-side structural reform in accordance with its position and mission of serving innovative, start-up, and high-growth firms. Thanks to the systems established and creative arrangements in place, e.g. an entrance system for shares listing and publicly transferring, a small-amount, quick and on-demand on-going financing mechanism, a differentiated supervision and service framework for layered markets, an incentive and restrictive mechanism with chief agency broker at its core, NEEQ grows with improving market function, strengthening core technical systems, better front-line supervision and risk control capability, and solidifying foundation for innovative reform and opening-up.
By the end of April, 2018, 11,382 companies had been listed on the NEEQ, with RMB 438.351 billion raised on the market. Among the listed companies, 61% are high-tech companies, 25% are from strategic emerging industries, 72% are from advanced manufacturing industries and modern service industries. Mr. Xie points out that NEEQ company, led by CSRC, and keeping in mind the three tasks identified in the National Conference on Financial Work, is deepening NEEQ reform, by refining market classification. As capital markets are highly sensitive to information, the publication and interpretation of market policies and events, the response and guidance to public opinions will have an impact on market expectation and confidence, and affect market order and the environment for reform and innovation. Therefore, public communication is one of the core work in market building. To strengthen pubic communication is essential for deepening NEEQ reform.
Mr. Ge Wei notices CFM Group is founded by Xinhua News Agency under the approval of State Council and Central Publicity Department. The group is committed to build a comprehensive, high-tech, all media modern media group. CFM Group always pays great attention to NEEQ news publicity. 2018 marks the 40th anniversary of the reform and opening-up. At this historical moment, it is of great significance for both sides to achieve a strategic cooperation and explore issues concerning multi-tiered capital markets development.