Lingang New Area will create an open market and encourage high-quality enterprises to go public overseas
On September 21st, the Autumn Conference of Dishui Lake Emerging Finance -2023 Cross border Finance Theme Conference was held in the Lingang New Area of Shanghai Pilot Free Trade Zone. The "Lingang New Area Listed Company Federation" was unveiled, comprehensively enhancing the international competitiveness of listed enterprises.
At the meeting, Liu Wei, Vice President of Lingang Group, stated that the Lingang New Area is accelerating the development of new financial formats and models such as cross-border finance, offshore finance, technology finance, and green finance; Construct major functional platforms such as the International Financial Asset Trading Platform, Shanghai Oil and Gas Trading Center, and Reinsurance International Board, and introduce over a hundred top domestic and foreign financial institutions such as Ping An Property Insurance, Sumitomo Mitsui, and Allianz Fund.
Currently, "going abroad" is one of the key words for the development of Chinese enterprises. Data shows that as of August this year, out of 4566 listed companies that have disclosed their semi annual reports, 1024 have achieved a year-on-year increase in overseas revenue; The income structure of 984 companies is more inclined towards overseas compared to the same period last year.
![Lingang New Area will create an open market and encourage high-quality enterprises to go public overseas](https://a5qu.com/upload/images/a0c84a1fe6d36af375e417479f234231.jpeg)
Next, the Lingang New Area will further leverage the advantages of institutional innovation policies such as "five freedoms and one convenience", encourage high-quality enterprises that meet the conditions to list overseas, improve the integration of domestic and foreign capital markets, and use this as an opportunity to promote the convertibility of RMB capital projects, creating an open market that matches China's economic status.