Notice by Beijing Shunyi District People's Government on Issuing Incentive Measures by Shunyi District to Support Public Listings
Beijing Shunyi District People's Government
Notice on Issuing Incentive Measures by Shunyi District to Support Public Listings
Town People's Governments, Regional and Street Offices, District Government Commissions, Offices and Bureaus, and District-affiliated Organizations,
The Incentive Measures by Shunyi District to Support Public Listings have been approved by the District Government. We hereby issue these measures to you and please ensure to implement them in line with actual circumstances.
Beijing Shunyi District People's Government
July 20, 2021
(Open Released)
Incentive Measures by Shunyi District to Support Public Listings
Chapter I. General Provisions
Article 1 For the purpose of implementing the national strategy of innovation-driven development, making full play of the role of capital markets in supporting real economy, promoting development of the private sector, advancing a system of high-end, precision and advanced industries that fits regional development actuality, and constructing a new landscape of "3+4+1" leading industries, these measure are formulated in line with Opinions by General Office of Beijing Municipal People’s Government on Further Supporting Public Listings (Jing Zheng Ban Fa [2018] 21), Implementation Opinions on Promoting High-end, Precision and Advanced Industries by Shunyi District and other policies, with consideration of the actual development circumstances in Shunyi District.
Article 2 In view of the corporate growth trajectory and public listing patterns, Shunyi District will follow the principle of “policy guidance, regulated operation, business orientation and market promotion”, focus on the end-to-end process of public listing, offer services covering pre-, during and post-listings in joint effort with government agencies and markets, improve business environment comprehensively, enhance direct financing capacities of companies, and continuously expand the Shunyi sector in multi-facet capital markets.
Article 3 For the purpose of these measures, “listed companies” means those listed with A-share main board, GEM board, STAR market, overseas well-known capital markets, and NEEQ (new third board).
For the purpose of these measures, “companies under listing cultivation” means prospective companies that are registered and paying taxes in Shunyi District, and basically meeting or having potential to meet relevant requirements for public listings.
For the purpose of these measures, “associated intermediaries” means incorporated or unincorporated entities that play important roles in the process of listing and referral of companies under listing cultivation and provide professional services, such as securities firms, fund management firms, investment institutions, accounting firms, industrial associations, and business management agencies.
For the purpose of these measures, “listing incubators” means incorporated entities registered and paying taxes in Shunyi District, meeting relevant accreditation requirements for listing incubators, and specialized in listing cultivation, incubation and services.
Article 4 Enhance the leadership mechanism. Incorporate public listing support work into the important agenda of Shunyi District Leadership Group for Financial Services, enhance management and coordination, and fully implement accountability system. All organs and territories within Shunyi District should fully cooperate, work diligently to address relevant issues in public listing, clear the business listing channels, and expedite the listing process.
Article 5 Set up a special-purpose fund on public listings and relevant services. In line with annual budget plans, such fund will be allocated from the District’s fiscal funds.
Chapter II. Incubation and Cultivation Support
Article 6 Speed up construction of Beijing Headquarter Base for Listed Companies. Towns and economic functional zones within the District are encouraged to utilize buildings resources, attract and engage listed companies and companies under listing cultivation in conforming directions considering local business development characteristics, formulate territorial support policies in line with local actual circumstances, and promote differentiated construction with local characteristics.
Article 7 Enhance development of database for companies under listing cultivation, strengthen listing tracking, and include companies with listing intention and prospective listing conditions into management in a timely manner, so as to provide coordinated support for faster listing.
Article 8 Support listing incubators in participating in development, operation and management of the Beijing Headquarter Base for Listed Companies.
Incubators that meet the following criteria are entitled to start-up operational funding support of RMB 500,000 in the same year of accreditation:
(1) They are independent legal entities that are registered and paying tax in Shunyi, having clear shareholding structure and complete organization structure, operating in compliance with laws and regulations under modern corporate system, and having no record of penalty for major violations.
(2) They have entered into service contracts with territorial governments or development zones that are recognized as demonstrative zones of Headquarter Base for Listed Companies, for a contractual term no less than 2 years; and have venue no less than 500 square meters in size for use at its own discretion on incubating listing companies.
(3) Their operating entities or core teams have professional capacity, relevant experience and resource advantage in financial industry and listing services, with capacity to provide multi-functional, comprehensive investment and financing coordination, capital operation management, finance consultancy service, finance and management training, and other business services.
Article 9 Listing incubators that have contracted for no less than two years and realized no less than 8 listings annually on average will be entitled to additional funding support of RMB 1 million.
Chapter III. Listing Incentives
Article 10 Companies under listing cultivation that have listed with A-share main board, GEM board and STAR market will be entitled to RMB 10 million funding support in lump sum. This also applies to listed companies newly onboarded with the District.
Article 11 Companies under listing cultivation that have listed with well-known overseas markets such as main board of Hong Kong Stock Exchange, main board of New York Stock Exchange, Nasdaq Global Markets, and main board of London Stock Exchange will be entitled to RMB 6 million funding support in lump sum. Among them, those who return to list with A-share market will be entitled to additionally RMB 6 million funding support in lump sum. Overseas-listed companies that return to list with A-share after onboarding with the District will be entitled to RMB 12 million funding support in lump sum. Incentive for companies listed with multiple markets will be executed per the highest one.
Article 12 Companies under listing cultivation that have directly listed with the base layer of the new third board or companies already listed with the base layer of the new third board that have newly transferred to the District, with annual revenue no less than RMB 50 million or net profit no less than 5 million from the previous year, will be entitled to RMB 1.5 million funding support in lump sum; companies under listing cultivation that have directly listed with the innovative layer of the new third board or companies already listed with the innovative layer the new third board that have newly transferred to the District will be entitled to RMB 2 million funding support in lump sum; companies under listing cultivation that have upgraded from innovative layer to selective layer will be entitled to additional RMB 3 million funding support; and selective layer listed companies that have newly transferred to the District will be entitled to RMB 5 million funding support in lump sum.
Companies in the District that are listed with innovative layer and selective layer of the new third board will be entitled to RMB 100,000 funding support in lump sum for transferring continued supervision relation to securities firms in the District.
Companies listed with new third board that have transferred to other boards or upgraded to higher layers will be entitled to receive the difference amount after completion of transfer or upgrade.