Wu Qing: Listing is the starting point, not the end point; financing is a tool, not the purpose

PANews reported on June 18 that Wu Qing, Chairman of the China Securities Regulatory Commission, said at the 2025 Lujiazui Forum that listing is the starting point, not the end point, and financing is a tool, not a purpose. The China Securities Regulatory Commission will adhere to the goal-oriented and problem-oriented approach and continuously improve the regulatory system arrangements for the entire chain of listed companies. The China Securities Regulatory Commission will launch the "1+6" policy measures to further deepen the reform of the Science and Technology Innovation Board. Set up a science and technology innovation growth layer for the Science and Technology Innovation Board; restart the application of the fifth set of listing standards for the Science and Technology Innovation Board to unprofitable companies; pilot the introduction of a senior professional institutional investor system for companies listed under the fifth set of standards; pilot an IPO pre-review mechanism for high-quality technology companies; expand the scope of application of the fifth set of standards, etc. The China Securities Regulatory Commission will further strengthen the advantages of equity-bond linkage in serving technological innovation, vigorously develop science and technology innovation bonds, optimize the issuance and trading system arrangements, promote the improvement of the interest subsidy guarantee supporting mechanism, accelerate the launch of science and technology innovation bond ETFs, and actively develop exchangeable bonds, convertible bonds and other equity-bond combination products.