Chongchuan acts to help resident enterprises go public
A workshop of Nantong Great Electric Co Ltd. [Photo/Nantong Daily]
The number of listed companies is an important indicator of a region's comprehensive economic strength. At present, Chongchuan district, the main urban area of Nantong in East China's Jiangsu province, has 10 listed enterprises and six listed on the NEEQ – National Equities Exchange and Quotations board – making it rank first in the city.
In order to build a sustainable echelon of back-up listed companies, Chongchuan implemented a "listed enterprise nursery garden" project centered on the listing of enterprises. The district strives to make the number of enterprises included in the "nursery garden" project to at least 50, the number of listed firms to 16, by 2024.
Founded in 2002, Nantong Great Electric Co Ltd was one of the first 10 companies choosing to go public on the highly anticipated Beijing Stock Exchange on the first day of the exchange's trading. It is the first listed firm in the industry of producing wiring harnesses for commercial vehicles in China.
"One-to-one precise services immediately helped us solve financing difficulties, and accelerated the pace of listing," said Jiang Mingquan, chairman of Great Electric.
In order to help resident companies come into the market, Chongchuan district opened fast-track channels. A special working team will be established for each company to be listed. The relevant departments should serve as a steward, provide prepared guidance in project approval, planning, environmental protection, safety, tax revenue, social security and other links, to solve the difficulties in the listing process.
