An Investigation Report On Listing "the NEEQ" Of Small And Medium-size Enterprise Of Hebei Province

Small and medium-sized enterprises are the main force of development of society and economy in China, which plays an important role in expanding employment, increasing government tax and promoting social harmony and stability. These enterprises, however, pertain to labor-intensive, relatively low technical content of traditional industries, most of which are small and weak. Moreover, these features make it hard to be in accordance with the commercial bank loan conditions. Therefore, the enterprises have to be faced with the financing difficult problem which has restricted the innovation of enterprise technology and sustainable development and hindered the adjustment of economic structure and the pace of industrial transformation and upgrading. On the basis of the pilot of securities companies share transfer agents, the State Council approved to set up the national stock transfer system of small and medium-sized enterprises on 8th July in 2012. What’s more, the relevant policy as a name of The Several Opinions on Promoting the Healthy Development of Capital Markets Further was issued by the State Council Executive Meeting on 23 th July, which emphasized that the government will support the micro, small and medium enterprises to rely on the NEEQ in finance in order to promote innovation and entrepreneurship, the structural adjustment of the enterprises and sustainable and healthy development of economy and society. For sake of relieving difficulties in financing, most importantly, the NEEQ has opened up an effective channel for financing directly. In consequence, the enterprises should seize the opportunity by listed on the NEEQ.However, small and medium-sized enterprises must conform to the listed conditions and pass censorship of the national small and medium-sized enterprise stock transfer system company(hereinafter referred to as "company shares transfer system") for hanging out their shingles on the NEEQ. In addition, it is vital for firms to get the government’s policy support. Hence, the paper firstly uses an entry point that how to promote small and medium-sized enterprises in Hebei province to be listed on the NEEQ successfully, making a series of research and reports for it. Secondly, it mainly elaborates on the introduction, the development situation of the NEEQ, a comprehensive description of the circumstance and issues of Hebei province, countermeasures and suggestions for existing problems and summarizes. At that, the article analyzes emphatically the two aspects of the small and medium-sized enterprises and government in Hebei province. From the standpoint of firms, this article selects stocks system company feedback on 50 listed companies in Hebei province, using the methods of quantitative research and case analysis to find out the problems existing in the enterprise, which is combined with the review key of shares transfer system in company. It states the stability of equity structure, the ability of continuous operation and the regulatory of finance problems at length. Furthermore, viewed from government, compared with the support policy of the NEEQ in the other provinces enterprises, the thesis finds the problems in Hebei provinces including the less of supporting measures on subsidies, the little number of the NEEQ backup, the short of cultivate work, the lack of support measures for high-tech enterprises listed on the NEEQ. Finally, countermeasures and suggestions are given respectively. On one hand, enterprises should improve the ownership structure and enhance the ability of continuing as a going concern as well as make a sound system of financial management to eliminate adverse effect of listed on the NEEQ. On the other hand, the government of Hebei province should use subsidy way by stages and perfect the system of the NEEQ of the candidate enterprises as well as set up the guide fund for the NEEQ industry to arouse the enthusiasm of enterprises and play a role of guidance. Only the support of government merges with the development of enterprises, can the road of small and medium-sized enterprises listed on the NEEQ be more smooth.