On 27 November 2013, Cao Qi, partner at Dacheng’s Shanghai office, was appointed a member of a think tank advising the government of Jinshan District, Shanghai, on matters related to corporate restructuring and listing.
Since 2008, when the government’s initiative to foster small and medium-sized enterprises’ (SMEs’) restructuring and listing started, five enterprises located in Jinshan managed to get themselves launched in the capital market, among which four were listed on the SMEs board and growth enterprise board, accounting for 9.8 per cent of all 51 listed SMEs in Shanghai.
As of the end of May, 81 enterprises were selected as reserves for prospective listings. Of these reserves, 11 have completed restructuring and six have submitted files with Shanghai Securities Regulatory Bureau. Another four will file with CRSC by the end of this year.
According to the Opinion on Pushing Forward Restructuring and Listing of Enterprises in Jinshan District, 100 enterprises are expected to be included in the pool of reserves for prospective listings, 30 should complete shareholding reform and 10–15 enterprises should be successfully restructured and listed.
The restructuring and listing of an enterprise is a sure way to build up core competitiveness and achieve sustained growth. It also paves the way for the district’s industrial restructuring, helps build a solid foundation for regional development and helps achieve growth by leaps and bounds.