Quanzhou Releases Comprehensive Economic Reform Plan, Textile Industry Becomes Pilot Of Investment Fund

< p > the latest general plan for the comprehensive reform pilot area of financial services in Quanzhou, Fujian Province, said that the pilot project of investment funds for petrochemical, footwear and textile and garment industries will be launched to support the establishment of venture capital guidance fund and increase government investment in venture capital funds.

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< p > > Fujian < a href= "//www.sjfzxm.com/news/index_p.asp > > Quanzhou < /a > has become the third national financial comprehensive reform experimental area after Zhejiang Wenzhou comprehensive financial reform pilot area and Guangdong Pearl River Delta financial reform and innovation comprehensive test area.

The move marks Quanzhou, known as the "private sector", which has the largest dividend policy of the "two pioneering" of the real economy and the pformation and upgrading of traditional industries.

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< p > < strong > create a multi billion industry fund < /strong > /p >

< p > according to the general plan, the government will invest in the venture capital fund.

Fu Zhaoyang, member of the Standing Committee and deputy mayor of Quanzhou Municipal Committee, said, "the size of the parent fund of the guidance fund is expected to exceed 2 billion yuan, and the initial large-scale investment in Quanzhou will be the main investment. The scale of the future fund will gradually expand."

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< p > analysts say the overall plan has brought huge space for the comprehensive reform of the financial services entity < a href= "//www.sjfzxm.com/news/index_cj.asp" > economic < /a >.

It will create a better external environment for Quanzhou's private enterprises' "two pioneering" and pformation and upgrading, and innovation and development.

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< p > it is learnt that with the increasingly fierce competition in the international market and the quickening pace of structural adjustment in the domestic economy, the private economy in Quanzhou has entered a "platform stage". A large number of local small and medium enterprises urgently need to pform, upgrade and grow stronger.

The overall plan encourages the development of standardization, specialization and simplification of the approval process of small and micro enterprises in Quanzhou commercial bank, and establishes specialized small and micro enterprises loan mechanism and service platform.

The local financial institutions also enhance their financial services capabilities in the development of service entities.

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< p > it is understood that at present, Quanzhou's textile, clothing, footwear and petrochemical industries are 3 < a href= "//www.sjfzxm.com/news/index_s.asp" > industrial cluster < /a > output value exceeds 100 billion, and industrial output value above scale reaches 155 billion 140 million yuan, 140 billion 248 million yuan and 119 billion 375 million yuan respectively; the output value of 2 industrial clusters of machine building, building and building materials exceeds 50 billion yuan, and industrial output value above scale reaches 62 billion 493 million yuan and 76 billion 473 million yuan respectively.

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< p > < strong > equity financing will radiate Hercynian < /strong > /p >

< p > according to the overall plan, Quanzhou will actively expand the scale of direct financing.

Support eligible listed companies, support the optimization and reorganization of listed companies, raise funds through additional issuance and rights issue, and enhance capital strength.

It supports enterprises to buy shares and merge shares with equity consideration.

We will actively promote the pilot pfer of shares by non-listed company.

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< p > Li Liansheng, director of the Quanzhou Development Zone listing office, said the relevant departments will seize the golden opportunity to vigorously promote the construction of Quanzhou operation center of the Straits equity trading center, take an active part in the Quanzhou hi tech Zone to apply for the new three board expansion pilot project, build a multi-functional equity financing platform and broaden the financing channels for enterprises.

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< p > "our future equity financing services will not only be in Quanzhou, but will radiate into the entire Haixi region."

Li Liansheng said that Quanzhou's local real economy is well-developed, and the resources to be listed are rich. Relevant departments will actively promote the listing and financing of enterprises.

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< p > according to the general plan, Quanzhou will guide the operation of key listed companies and listed companies, enhance the level of corporate governance, and cultivate a group of leading enterprises with strong market competitiveness.

We should increase the proportion of direct financing and support eligible enterprises to issue debt financing instruments and enterprise (Corporate) debts of non-financial enterprises.

It is necessary to support the pilot projects of regional gifted notes, establish and improve the re guarantee system for SMEs, and provide credit enhancement services.

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At the same time, we should strive for a pilot measure in the framework of the Closer Economic Partnership Arrangement (CEPA) between the mainland and Hong Kong and Macau, and appropriately relax the access requirements for financial institutions in Hong Kong and Macao.

Promote qualified enterprises to go public financing and refinancing in Hongkong.

To support Quanzhou enterprises or overseas affiliated enterprises to issue RMB bonds in Hong Kong.

We should strengthen financial cooperation between Hong Kong, Macao and Macao.

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< p > > < strong > 2 trillion civil capital is urgent to release vigor < /strong > /p >

< p > Quanzhou mayor Huang Shaoping pointed out that Quanzhou's private capital is very strong, and it urgently needs financial reform to release vitality.

"Quanzhou is a famous hometown of overseas Chinese in the country. There are 7 million 600 thousand overseas Chinese in Quanzhou in 129 countries and regions.

According to industry estimates, Quanzhou's local private capital plus overseas Chinese capital may be as high as 2 trillion yuan, which has larger room for guiding and standardizing the operation of private capital.

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< p > for this, the overall plan says it will promote diversification of private investment.

We should encourage private capital to participate in the reform of local financial institutions, and encourage private funds to initiate or set up new rural financial institutions such as village banks, loan companies and rural mutual cooperatives in accordance with relevant regulations.

We should standardize the development of industrial investment funds, equity investment funds and venture capital investment funds, and guide private capital to enter the real economy in an orderly way in the form of equity and bond investment.

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< p > in the face of the "Dongfeng" policy approved by the general plan of the golden reform, the local industry appeals to vigorously cultivate local financial entities, especially small loan companies, pawnshops, financing Guarantee Corporation, village banks, private capital registration and management centers, private capital management companies, etc., to innovate financial products and services for small and medium enterprises and "three rural"; to guide private capital to invest in the real economy, to promote the sunshine and standardization of private capital; to establish and improve the financial service system, to play the role of financial aggregation, and to promote the pformation of the real economy.

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