Chengdu Unveils Support Policies for Companies to List on the SSE STAR Market
City Flash

Chengdu Unveils Support Policies for Companies to List on the SSE STAR Market

  On June 13, 2019, the city of Chengdu rolled out the Support Policies to Accelerate the Promotion of Enterprises of Chengdu to List on the SSE STAR Market (hereinafter referred to as Support Policies), which are measures aimed at aiding companies to float shares on the Sci-Tech innovation board (STAR) of the Shanghai Stock Exchange (SSE).

 

  The Support Policies includes ten specific measures and offer assistance in six aspects including direct financing, improvement in sci-tech innovation capacity, improvement of asset securitization level, reduction in costs associated with tax, corporate cultivation and incubation, and assembly of high-level human resources to enterprises of the city of Chengdu to go public on the STAR Market.


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Support enterprises to go public


  For an enterprise intending to go public on the STAR Market, if listing application has been officially processed by the Shanghai Stock Exchange, a reward of RMB2 million may be granted.


  For an enterprise that goes public for the first time on the SSE STAR Market, a one-off reward of RMB8 million may be granted.


  For an enterprise already listed on the SSE STAR Market that newly relocates to Chengdu, a one-off reward of RMB6 million may be granted.

 


Support enterprises to improve asset securitization level


  For an enterprise intending to go public on the STAR Market that convert or issue further shares using retained earnings and capital reserves such as undistributed profits and surplus reserves, a reward equal to 5% of value of further shares converted or issued at a maximum of RMB2 million may be granted.


  For an enterprise that is listed on the SSE STAR Market and implements an incentive stock option scheme for key technical personnel, a subsidy equal to 10% of transaction value corresponding to stock given to key technical personnel in incentive stock option scheme at a maximum of RMB1 million may be granted to a single enterprise.


  Enterprises will also be entitled to a series of incentive policies in numerous areas such as tax, restructuring and key technical personnel incentive stock option scheme.

 

Support Chengdu's sci-tech innovation enterprises to grow big and grow strong through the SSE STAR Market


  For an enterprise listed on the SSE STAR Market that issues new shares for financing via the capital market, a reward equal to 5‰ of amount of financing at a maximum of RMB1 million may be granted. 


  For an enterprise listed on the SSE STAR Market that carries out merger and acquisition activities, a reward equal to 5‰ of actual transaction value at a maximum of RMB1 million may be granted. 

 

Encourage Intermediary Organizations to Assist Chengdu Enterprises to List on the SSE STAR Market


  For SSE STAR Market-listed board directors, senior executives and key technical personnel, as well as sponsor representatives that have completed the successful listing of two or more Chengdu enterprises on the SSE STAR Market, prioritized support may be given when applying for talent programs such as national "Thousand Talents Plan," Sichuan Province's "Thousand Talents Plan," the city of Chengdu's "Chengdu Talents Program" and "Distinguished Expert with Outstanding Contribution in Chengdu".

 

Support the Establishment of a Special Sci-Tech Innovation Board at the Tianfu (Sichuan) United Equity Exchange


  For an enterprise that list on the Special Science and Technology Innovation Board at the Tianfu (Sichuan) United Equity Exchange, a reward of RMB10,000 may be granted to each enterprise.


  For an enterprise listed on the Special Science and Technology Innovation Board at the Tianfu (Sichuan) United Equity Exchange that completes shareholding restructuring, a reward of RMB200,000 may be granted.


  For an enterprise listed on the Special Science and Technology Innovation Board at the Tianfu (Sichuan) United Equity Exchange that obtains financing through methods such as stock pledgee and issuance of additional shares for capital, a reward equal to 1% of total amount of financing at a maximum of RMB10 million each year may be granted by the Tianfu (Sichuan) United Equity Exchange.


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