Shanghai Stock Exchange Helps Innovation and Development of Textile Industry

Release time:

2018-12-10

In order to implement the national innovation and development strategy, promote the in-depth integration of industry and finance in the textile industry, cultivate and promote the listing, refinancing, merger and reorganization of leading textile enterprises, a few days ago, under the guidance of the Ministry of Industry and Information Technology, the China Textile Industry Industry Industry Finance Cooperation Conference and Investment and financing training Conference sponsored by the Shanghai Stock Exchange and the China Textile Industry Federation was successfully held in Shanghai Stock Exchange.

Wang Xinzhe, chief economist of the Ministry of Industry and Information Technology, said in his speech that the textile industry is an important industry related to the national economy and people's livelihood. Textile and clothing exports account for 1/3 of the world's total, and it has become the world's largest producer and exporter of textiles and clothing. However, we should also see that in the first three quarters of this year, the main business income, profits and investment of the textile industry still maintained growth, but the growth rate was lower than that of the same period last year. The main reasons for these problems are that the innovation ability of China's textile industry is not strong, the level of equipment technology is not high, and there are not many international famous brands. These problems are our "growing pains" and are also the key problems to be solved in the next step.

He also said that from the perspective of the textile industry, to achieve transformation and upgrading, it must be deeply integrated with finance. The China Textile Industry Federation has taken industry-finance cooperation as an important work in the development of the industry and actively promoted its implementation. We believe that with the joint efforts of everyone, the textile industry will be able to maintain medium-to-high-speed growth and make positive contributions to the high-quality development of my country's economy. In the next step, the Ministry of Industry and Information Technology will work with the "one bank, two sessions" and the Ministry of Finance, combined with the latest policies and measures of relevant departments and localities to solve financing difficulties and expensive financing, to further deepen industry-finance cooperation.

Que Bo, deputy general manager of the Shanghai Stock Exchange, said in his speech that in order to promote the high-quality development of the capital market, the Shanghai Stock Exchange has always been moving forward on the road of supporting the development of high-quality innovative enterprises. First, actively visit scientific and technological innovation enterprises. During the visit, we have an in-depth understanding of the business situation and listing obstacles, and selected professional backbones for "expert consultation". In terms of service effectiveness, 132 new economy enterprises and 219 high-tech enterprises have been listed on the Shanghai stock market since 2017, accounting for 49% and 82% of the number of newly listed companies in the same period, effectively optimizing the structure of listed companies in the Shanghai stock market.

The second is to build a capital market hub platform. At present, the Shanghai Stock Exchange has gradually built a capital, project, and information integrated docking platform covering various entities such as the government, industrial parks, banks, securities companies, PE investment institutions, listed companies, and companies to be listed, so as to maximize the capital of the Shanghai Stock Exchange. The market hub function promotes the optimal allocation of resources.

Third, actively and steadily promote the science and technology board and registration system pilot. Under the guidance of the CSRC, the Shanghai Stock Exchange will adhere to problem awareness and problem orientation, according to the characteristics and needs of science and technology enterprises, improve the tolerance of corporate profitability, agreement control and different voting rights structures, enhance the ability of the capital market to serve science and technology enterprises, allow domestic investors to directly share the growth dividends of science and technology enterprises and the national economy, and promote the formation of relatively clear listing standards and time expectations for both investment and financing.

The list of ten categories of innovative textile products for cultivation and promotion in 2018 was announced.

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Li Lingshen: Innovation-driven, endogenous development, accelerate the construction of a new era of textile science and technology power.

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