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www.LegiEX.com: A share registration system is fully implemented! The rally number has blown

www.LegiEX.com: A share registration system is fully implemented! The assembly number has already been sounded. After the new law comes into effect, corporate bonds will be the first to roll out the full implementation of the registration system. On March 1, the Securities Regulatory Commission and the National Development and Reform Commission successively issued notices that the registration system for the public issuance of corporate bonds shall be accepted and reviewed by the stock exchange;

The issuance of corporate bonds was changed from an approval system to a registration system, and the conditions for issuing corporate bonds were clarified. This move will greatly simplify the issuance process, improve issuance efficiency, and help companies expand the scale of bond financing.

Since 2015, the Shanghai Stock Exchange has issued a total of nearly 10 trillion yuan of corporate bonds, with an average annual issuance of more than 2 trillion yuan, continuously providing a source of power for implementing national strategies and serving the real economy.

According to statistics, as of the end of February 2020, the scale of China's existing bonds was 98.95 trillion yuan. Among them, corporate debt was 2.31 trillion yuan, accounting for 2.33%;

Corporate bonds were 7.16 trillion yuan, accounting for 7.23%; of which, general corporate bonds were 3.91 trillion yuan, and private placement bonds were 3.24 trillion yuan. Nearly 10% of the bonds will benefit from the registration system reform, the process is simplified, and the cycle is shortened. Simplifying government and decentralization is playing a substantial role in solving the problem of "difficult financing and expensive financing" for enterprises.

In the future, bond issuance only needs to withstand the test of the market, and the market will gradually play a decisive role in the allocation of resources.

At the same time, this reform will further promote the internationalization of the Chinese bond market. Chinese bonds are a low-lying global valuation, but currently foreign investors account for only a little over 2% in the Chinese bond market, which is still far below the level of developed countries, and there is still much room for improvement in opening up.

However, overseas institutions are very optimistic about the allocation value of Chinese bonds. For example, in January 2020, overseas investors' holdings of medium-term notes increased by 12 billion yuan, indicating an increase in interest in Chinese credit bonds.

After the formal implementation of the bond registration system reform, it will further attract foreign investors' attention to the Chinese bond market. According to market analysts, the strength of foreign institutions in allocating Chinese bonds will increase significantly in 2020, and the scale may reach 700 billion yuan or even 1 trillion yuan.

Not only the bond sector, but the registration system is being rolled out in all areas of the entire capital market. According to the "Notice on Implementing the Work Related to the Revised Securities Law" issued by the General Office of the State Council on February 29, the reform of the registration system for the public offering of shares will be implemented in the future.

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Our team has extensive customer experience and expertise. These valuable experiences, especially in the special needs of customers and technological innovation, give us a unique and unique advantage.

We constantly update and improve our trading system, and strive to build a bridge between customers and the trading market, so that you can become a winner in the foreign exchange market.