It is learnt from Promotion Conference of Public Process held on 31st May that Ningbo Municipal Government has recently issued Opinions on Encouraging Local Enterprises to Go Public with clear purposes that during the “12-5” plan stage Ningbo will boast 100 public enterprises listed at home and abroad, more than 50 billion in equity trading, and fast establishment of “Public Company Section” which has sufficient private capitals and growth, as well as certain business scale.
It is understood that during “12-5” plan stage, Ningbo will strive to maintain about 200 pre-listing companies. Therefore, Ningbo will breed high-standing enterprises which not only accord with industrial policies, but also enjoy great potentials in high-tech, high-growth rate, high added values, new economy, new services, new energy, new materials and new agriculture so as to help them develop and go public. Besides, Ningbo will encourage professional equity investment institutions home and abroad to invest in those local SMEs with good market prospects and high growth rate and to encourage them go public. Public enterprises whose contributions to local economy will exceed certain proportions in the nest three years will be rewarded by the local government.
The opinions have explicated a series of supportive policies for pre-listing targets. As for the domestically listing enterprises, after they have decided upon the listing plan and sign the agreements and pay the sponsor institutions, accounting companies and law firms, the municipal government will reward them 500,000 RMB. And after the application documents are accepted by CSRC, municipal government will reward them with 1 million. Meanwhile, as for those overseas listing companies, after they successfully go public, the municipal government will reward them 1 million RMB. As for those listing companies through back-door or merger and which move their registration place to Ningbo, will be rewarded 5 million. The above-mentioned rewarding plans should be matched at least by 1:1 for all the towns and cities.