Set up equity funds to carry out market making, and the leading brokerages have successively made ef

Mondo Finance Updated on 2024-01-31

Leading brokerages have increased their weight in the Beijing Stock Exchange market.

Recently, a subsidiary of China Securities Construction Investment and other institutions established an equity investment in the Beijing Stock Exchange**, of which a subsidiary of China Securities Construction Investment invested 17.5 billion yuan, accounting for 35%. The goal is to support the high-quality construction of the Beijing Stock Exchange and help the rapid development of small and medium-sized enterprises. In addition to China Securities Construction Investment, CICC recently announced that it will join the market maker team of the Beijing Stock Exchange and carry out market making for 2** to increase market liquidity.

With the increasing importance of the Beijing Stock Exchange, it is expected that more brokerages will increase their investment in the Beijing Stock Exchange. Zhou Yunnan, a senior investor, told a Chinese reporter from a brokerage.

When the Beijing Stock Exchange's deep reform measures were released, the China Securities Regulatory Commission said that it would further consolidate the responsibilities of various intermediaries and supervise the improvement of the ability and quality of the Beijing Stock Exchange's full-chain business investment.

China Securities Construction Investment Co., Ltd. established an equity in the Beijing Stock Exchange**.

On December 25, China Securities Construction Investment announced that the company's subsidiary, China Securities Construction Investment, will jointly establish Beijing Jinjian Beijing Stock Exchange Equity ** Partnership (Limited Partnership) (tentative name) with Beijing Financial Holding Group's Jincai**, Financial Holding Capital and other institutions to support the high-quality construction of the Beijing Stock Exchange, of which China Securities Construction Investment Investment accounted for 35%.

With the goal of supporting the high-quality construction of the Beijing ** Stock Exchange and helping the rapid development of small and medium-sized enterprises, it focuses on high-quality enterprises and high-growth start-up enterprises in emerging industries to be listed on the Beijing Stock Exchange, mainly investing in manufacturing, information transmission, software and information technology services, scientific research and technical services, and focusing on the "2441" high-tech industrial system.

According to the announcement, more than 60% of the ** investable amount will be mainly invested in high-quality enterprises to be listed on the Beijing Stock Exchange, and high-growth start-up enterprises in emerging industries to be listed on the Shanghai Stock Exchange and Shenzhen Stock Exchange will be less than 40% of the investable amount.

According to the disclosure, the total subscribed capital contribution paid by all partners to ** is 500 million yuan, and Jincai**, Jinkong Capital, China Securities Construction Investment Investment and Beijing Linkong Zhigu contributed 1 million yuan and 17.4 billion yuan, 1$7.5 billion and $1500 million yuan.

"This reflects the optimism of brokerages on the Beijing Stock Exchange market, and it is also in response to the reform of the Beijing Stock Exchange. This case may be a role model, and it is expected that more brokerages will follow suit. An analyst of a medium-sized brokerage firm in the north told a reporter from the brokerage China.

Zhou Yunnan, a senior investor, told brokerage China reporters that at the beginning of the establishment of the Beijing Stock Exchange, many brokerages had publicly promised to increase investment in companies listed on the Beijing Stock Exchange and companies to be listed. With the deepening of the reform of the Beijing Stock Exchange, the promotion of the high-quality construction of the Beijing Stock Exchange, and the significant improvement of the status of the Beijing Stock Exchange, more and more brokerages will increase their investment in the Beijing Stock Exchange, and they also expect all brokerages to fully support the high-quality development of the Beijing Stock Exchange with practical actions.

Brokerage China reporters noticed that some companies to be listed on the Beijing Stock Exchange will invest a certain proportion of shares before they are listed, similar to the co-investment of the Science and Technology Innovation Board.

CICC became a market maker on the Beijing Stock Exchange.

On December 19, CICC opened the first market-making trading business authority of the Beijing Stock Exchange and officially became a market maker of the Beijing Stock Exchange. On December 20, CICC announced that it would join the market-making for beiteri and Jilin Carbon Valley, and would provide market-making services for related ** from December 21.

It is reported that CICC is the 16th market maker on the Beijing Stock Exchange. On February 20 this year, the market-making trading business of the Beijing Stock Exchange was officially launched, and there were 15 market makers at that time. Judging from the list of market makers, the number of top brokerages and small and medium-sized brokerages is almost equal.

On September 1 this year, the China Securities Regulatory Commission (CSRC) issued the Special Provisions on the Market-making Trading Business of the Beijing Stock Exchange of the Company (hereinafter referred to as the "Special Provisions"). The Special Provisions make it clear that those who have obtained the qualification for listing ** market-making trading business in accordance with the "Provisions on Market-making of the Science and Technology Innovation Board" can carry out ** market-making trading business on the Beijing Stock Exchange in accordance with the regulations.

CICC falls into this category. Previously, CICC had already obtained the qualification of market maker on the Science and Technology Innovation Board, and now it has started to make markets on the Beijing Stock Exchange.

Compared with the market-making requirements of the STAR Market, the Special Provisions have lowered the requirements for market makers on the Beijing Stock Exchange. Brokerages that did not have the qualifications of market makers on the Science and Technology Innovation Board have already applied for the qualifications of market makers on the Beijing Stock Exchange. Brokerage China reporters learned that among the brokerages currently applying for qualifications, there is a head brokerage located in East China.

It is reported that the market maker system is conducive to improving the activity and liquidity of small and medium-sized market capitalization**. Since the introduction of the system on the Beijing Stock Exchange in February this year, the function of the market maker system has been initially played, and the market making transaction amount accounts for about 6% of the total transaction amount of the market-making target. The Beijing Stock Exchange will continue to expand the number of market makers, improve the evaluation and incentive mechanism of market makers on the Beijing Stock Exchange, and enhance the enthusiasm of market makers to participate.

On September 1 this year, when the 19th article of the Beijing Stock Exchange was released, the China Securities Regulatory Commission said that it would better play the role of intermediaries. Research and clarify the implementation standards of inclusive finance in the capital market, establish and improve the assessment and evaluation system, form an incentive and restraint mechanism to support the in-depth participation of ** companies in the construction of the Beijing Stock Exchange, and improve the classification and evaluation system of ** management companies. Further consolidate the responsibilities of various intermediaries, and supervise and improve the ability and quality of the Beijing Stock Exchange's full-chain business investment.

Editor-in-charge: Gui Yanmin.

Proofreading: Wang Wei.

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