In order to meet the needs of growing innovative and entrepreneurial enterprises with long R&D duration and high capital raising flexibility requirements, the GEM reform plan will target and improve the refinancing system. The refinancing reserve issuance system will be implemented on GEM, and simple refinancing procedures will also be further optimized. “The shelf issuance system allows 'one registration and multiple issues', returning the pace of financing to enterprises, so that the 'pulse-like' characteristics of innovative companies' capital requirements can be accurately adapted to the 'flexible' arrangement of system supply. It has built a 'take as need' capital supply chain for innovative enterprises, accelerates the transformation of innovative potential energy into economic momentum, will effectively reduce the phased idle capital of enterprises due to centralized financing, and help reduce the impact of large-scale refinancing on the market.” Tian Lihui, dean of the Financial Development Research Institute at Nankai University, told reporters.

In order to meet the needs of growing innovative and entrepreneurial enterprises with long R&D duration and high capital raising flexibility requirements, the GEM reform plan will target and improve the refinancing system. The refinancing reserve issuance system will be implemented on GEM, and simple refinancing procedures will also be further optimized. “The shelf issuance system allows 'one registration and multiple issues', returning the pace of financing to enterprises, so that the 'pulse-like' characteristics of innovative companies' capital requirements can be accurately adapted to the 'flexible' arrangement of system supply. It has built a 'take as need' capital supply chain for innovative enterprises, accelerates the transformation of innovative potential energy into economic momentum, will effectively reduce the phased idle capital of enterprises due to centralized financing, and help reduce the impact of large-scale refinancing on the market.” Tian Lihui, dean of the Financial Development Research Institute at Nankai University, told reporters.