On March 1st, the China Securities Regulatory Commission (CSRC) recently issued a letter in response to Proposal No. 4171 (Finance, Taxation, and Financial Category No. 261) of the Second Session of the 14th National Committee of the Chinese People’s Political Consultative Conference (CPPCC). Among them, it is mentioned that actively supporting qualified biopharmaceutical companies, including traditional Chinese medicine, to issue and list on the Shanghai and Shenzhen stock exchanges, focusing on expanding direct financing channels for biopharmaceutical companies, and fully leveraging the supportive role of the capital market in the development of the biopharmaceutical industry. Continue to control the pace of new stock issuance, actively support qualified traditional Chinese medicine and other biopharmaceutical companies to go public, and at the same time, ensure strict entry control to improve the quality of listed companies from the source. Support eligible Chinese medicine listed companies to develop and grow through mergers and acquisitions. The China Securities Regulatory Commission pointed out that it supports eligible biopharmaceutical and traditional Chinese medicine industry enterprises to accelerate their development through multi-level capital markets. Next, the China Securities Regulatory Commission will guide the National Equities Exchange and Quotations (BSE) to fully leverage their role as the “main battlefield” for serving innovative small and medium-sized enterprises, continue to increase market cultivation and service efforts, support more benchmark companies in the biopharmaceutical and traditional Chinese medicine industries that meet the conditions to list on the New Third Board and the BSE, and seize development opportunities.
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