BEIJING, March 15 /PRNewswire-Asia-FirstCall/ -- The
Chinese government will fully support domestic enterprises to be
listed in foreign multi-level capital markets and broaden financing
channels. China YiBai United Guarantee International Holding Inc.
(Pink Sheets: CBGH) (hereafter referred to as "China YiBai"), with
China's strong policy support, is
making full use of local enterprise resources combined with its
professionalism to deliver economic and social benefits at the
beginning of 2010.
More will be done to increase direct financing and improve
navigation of the multi-level capital market system and expand the
equity and bond financing in order to meet the diversified
financing demands laid out in the Government Work Report from
March 5th, 2010.
The Listing Working Conference 2010 was held on March 8th in Dalian by the Municipal Finance Board for the
purpose of establishing a regional finance center and planning
multi-level capital market development and relevant arrangements so
as to gear up for enterprises listings in overseas capital
markets.
Dai Yulin, Vice Mayor of Dalian
Municipal People's Government, made an important speech, along with
Cao Xu, Major of Finance Board and
Chen Hongqiao, Vice-General Manager of Shenzhen Stock Exchange.
Dai Yulin came straight to the
point when he said that bank loans will be reduced sharply in 2010
in China. Enterprises will have to
depend on capital markets to a much greater extent than they have
previously. And to be listed is the best choice. In his speech, he
also referred to the key emphasis in work as follows:
1. To make new breakthrough in listings.
2. To strengthen incubator projects for enterprises intending to be listed.
3. To strongly support equity investment.
4. To promote listed enterprises to help them be stronger.
5. To urge enterprises intending to be listed to do their best.
Cao Xu, Major of Finance Board,
explained the current conditions of capital markets in Dalian with concrete data in detail.
Additionally, he particularly mentioned the database established in
Dalian for enterprises intending
to be listed and said that there were 525 members, most of which
are industry leaders. Furthermore, there are 100 key enterprises
intending to be listed.
The Government's judgments and policies in the finance industry
are consistent with the business model of China YiBai. China YiBai
will do its utmost, through its professional service team and the
innovative ideas they have to work with capital markets to serve
its clients, and society at large, by supporting the new policies
at all levels and exploiting the excellent enterprise resources in
Dalian.
Currently, China YiBai has entered into listing cooperation
intention agreements with over 10 excellent enterprises in
Dalian and other regions and has
completed the due diligences in earlier stages. Next, China YiBai
will assist the enterprises with their listings in diversified
capital markets as is required for them to meet the demands for
these markets as soon as possible. Meanwhile, besides the listing
businesses in foreign multi-level capital markets, China YiBai is
also focusing on capital field and service innovations including
equity investments, equity pledge guarantees and the issuance of
collective bonds. Furthermore, China YiBai assists local
governments in the deficiencies of capital markets and aims to
become the most comprehensive, professional and modern financial
service provider throughout northeast China.
SOURCE China YiBai United Guarantee International Holding
Inc.
