The Integration Of Industry And Finance Promotes The High Quality Development Of The Industry: In 2018, China'S Textile Industry Investment And Financing Forum Was Held In Shanghai.

The integration of industry and finance promotes the high quality development of the industry: in 2018, China's textile industry investment and financing forum was held in Shanghai.

In order to carry out the nineteen spirit of the party, give full play to the role of the capital market in serving the real economy, make full use of the allocation function of the high-quality resources of the market, promote the capital strength to promote the pformation, upgrading, innovation and development of textile enterprises, and speed up the pace of building the textile power. According to the requirements of the Ministry of industry and information technology and the SFC and other departments on promoting the orderly and efficient development of the capital market, and with the relevant arrangements of the China Textile Industry Federation's "three year plan of action for the textile industry integration", under the guidance of the Ministry of industry and information technology, on December, 1-2, 2018, the China textile industry investment and financing forum and the China textile industry cooperation and investment and financing training conference were held in Shanghai.

With the theme of "integration and innovation and win win", this conference has discussed and exchanged in-depth discussions on how to accelerate the development of new ways, new initiatives and new models for China's textile industry.

In December 1st, in 2018, China's textile industry investment and financing forum was held. The forum was hosted by the China Textile Industry Federation, the China Textile Industry Enterprise Management Association, the China Textile Planning Research Association, and China Textile Asset Management Co., Ltd., and was supported by Orient International (Group) Limited company, Changjiang Securities Underwriter sponsor company and Shanghai Kai Shi Cci Capital Ltd.

The deputy director general of the Department is Cao Xuejun, the investigator of the China Securities Regulatory Commission, Zhang Hui, director of Policy Research Bureau of the China Banking Regulatory Commission, Yang Jun, deputy director general of the China Textile Industry Federation, the executive director of China Textile planning and Research Association, general manager of China Textile planning and Management Co., Ltd., chairman of Shandong textile and Garment Association, President of Oriental Textile Group Co., Ltd., director of Shanghai Kai Shi Yi Zheng Asset Management Co., Ltd., director general and manager of Changjiang Securities Underwriting sponsor Co., Ltd., more than 300 leaders and guests, including textile listed companies, key enterprises of listed companies, financial investment and intermediary organizations, relevant departments and professional associations of China Spinning Association, local government and industrial cluster leaders. Sun Ruizhe, vice president of the China Federation of textile industry, vice president Xu Kunyuan, vice president Duan Xiaoping, and consumer goods industry of Ministry of industry and information technology,

The meeting was chaired by Duan Xiaoping, vice president of China Textile Industry Federation and general manager of China Textile Asset Management Co., Ltd., Zhao Xiangdong.

Cao Xuejun, deputy director of the Department of consumer goods industry of the Ministry of industry and information technology, said in his speech that manufacturing industry is the main body of the real economy. In the past 40 years of reform and opening up, China's manufacturing system has been constantly improving, its industrial structure has been gradually optimized, and the status of the global manufacturing power is further enhanced.

At present, China's economy has shifted from high speed growth stage to high quality development stage, manufacturing industry has also entered the stage of pformation and upgrading, and industrial upgrading urgently needs financial support.

Since 2016, the Ministry of industry and the Ministry of Finance and the financial sector has issued a number of opinions.

Over the past two years, industrial and financial cooperation has achieved certain results in resolving financing difficulties, and has achieved macro and micro cooperation between financial institutions and financing enterprises.

She also pointed out that the textile industry as China's traditional pillar industries, an important livelihood industry, the international competitive advantage industry, is currently undergoing innovation driven technology industry, culture led fashion industry, responsibility oriented green industry, and pformation.

In the first three quarters of this year, the added value of textile products with relatively high capital and technology intensity increased by more than 8%, higher than the average growth rate of the textile industry, the rapid growth of textile and clothing brands, the growth rate of key brands was two times that of the industry, the average profit was over 8%, intelligent manufacturing and green manufacturing were also actively promoted, and the high quality development of textile industry had achieved initial success.

In order to meet the new requirements of the textile industry, this year, the Ministry of industry and Commerce and the China Textile Union have conducted in-depth cooperation to guide China Textile union to formulate the three year action plan for the integration of production and finance in the textile industry, issued a list of key cultivation enterprises, and established a cooperative relationship with relevant financial institutions such as the Securities Regulatory Commission and the Banking Regulatory Commission, and achieved initial results.

She said that the current industrial and financial cooperation has already made a good start. In the future, the Ministry of industry and Commerce will continue to strengthen the docking of industrial and financial cooperation, make full use of big data and cloud computing, and establish more convenient and efficient channels for exchange between banks and enterprises, promote the deep cooperation between finance and enterprises, do well in guiding industrial policies, and strengthen coordination of relevant policies.

Sun Ruizhe, President of the China Federation of textile industry, said in his speech that the textile industry is an important sector of the real economy in China, and the private economy and small and medium-sized enterprises are the main components.

By the end of 2017, there were about 199 listed companies related to textile and clothing in Shanghai and Shenzhen two cities, with a total market value of 2 trillion and 216 billion 795 million yuan, accounting for 5.71% and 3.91% respectively in listed companies.

Textile and garment industry is not a positive example in terms of capital market status, application status, industrial volume and number of enterprises.

This forum, based on the textile industry, discusses the core of industrial and financial cooperation. It helps to promote the three party cooperation in production, finance and administration, and helps to resolve the major contradictions in development. It has very important practical significance and guiding significance.

Deepening industrial and financial cooperation has become an important measure to achieve "steady employment, stable finance, stable foreign trade, stable foreign investment, stable investment and stable expectations".

At the meeting, Sun Ruizhe shared the three points of view:

First, deepening industrial and financial cooperation is the objective requirement of the textile industry's characteristics and development stages.

He stressed that the textile industry is one of China's most potential industrial sectors to take the lead in becoming a powerful country. It is one of the highest industrial sectors in China with the highest degree of openness and internationalization. It is also one of the most industrialized sectors in China.

After forty years of reform and opening up, China's textile industry has formed the largest and most complete industrial system in the world from small to large and from strong to strong.

At present, the acquisition of the American Lycra from Ruyi group has become the largest caprolactam production group in the world, and Anta has announced the acquisition of Amer. The industry enterprises are actively developing the global industrial chain through greenbelt investment and capital operation.

To achieve cross-border allocation of resources and international production capacity, we need the power of financial markets.

In addition, as the forerunner of economic restructuring, private enterprises became the main body of textile and apparel listed companies in 2004.

On the one hand, textile and garment enterprises have played an important role in stabilizing growth, expanding employment, increasing taxes and strengthening vitality.

On the other hand, with the acceleration of industrial upgrading, industrial concentration is on the rise.

Mergers and acquisitions make textile enterprises have an urgent need for capital.

International giants such as benchmarking Zara, Nike and so on have huge investment space.

Second, deepening the integration of industry and finance is a realistic choice for the textile industry to adapt to changes and seize opportunities.

At present, under the influence of internal and external factors, the downward pressure on the economy is increasing.

However, the fundamentals of China's healthy and stable economic development have not changed. The overall trend of long-term stability and good progress has not changed.

Stability and change are prominent features of the current external environment.

The complexity of environment is mainly manifested in uncertainty, asymmetry and instability.

In a complex economic environment, it is imperative for us to deal with uncertainty, deepen industrial and financial cooperation, enhance the application ability and risk management ability of financial instruments. To win competitive advantage in the asymmetric world, we need the power of financial market. Enterprises need to resolve the instability, enhance their adaptability, enhance their flexibility and vitality, and also need capital support.

Third, deepening industrial and financial cooperation is an important driving force for the development of high quality industries and the implementation of new positioning of the industry.

Technology, fashion and green are new labels and new positions of China's textile industry in the new era.

The high quality development of the industry is to put these three points into practice.

First, we should focus on quality, efficiency and cost, and create an innovation driven technology industry. Two, we should create a culture leading fashion industry with the masters, big cards and events as the starting point. Three, we should create a responsible green production industry based on human responsibilities, environmental responsibilities and market responsibilities.

He stressed that finance is the blood of the real economy, and the quality development of the industry can not do without capital support.

As an endorsement platform for industrial interests, an innovative service platform for pformation and development, and a professional support platform for government decision-making, the China Federation of textile industry has carried out a large number of efforts to promote industrial and financial cooperation.

The Federation has actively guided industry enterprises to understand and participate in the relevant industry investment and financing policies and plans promulgated by the state, and put forward the implementation of the three year plan of integration of industry and finance in the textile industry to promote the integration and development of industry and financial market; to explore comprehensive investment and financing services for industries, to strengthen supporting services in listing training, industry policies, market feedback and other aspects; to encourage and guide enterprises and governments, and third party organizations to jointly establish industrial development funds, so as to provide new financing channels for pformation, upgrading, investment, merger and reorganization of industrial enterprises; establish and improve the database of textile production and integration as key enterprises, and promote qualified enterprises to complete the listing as soon as possible.

The related work has achieved very good results.

In the future, China Textile Union will continue to carry out more rich and pragmatic work around the industry's financial cooperation.

Li Lingshen, vice president of China Textile Industry Federation, entitled "technological innovation and development of China's textile industry", introduced the achievements of China's textile science and technology development, the strategic objectives of textile technology development and the key points of textile technology innovation and development.

At present, the total amount of textile fiber processing in China has increased from 45 million 300 thousand tons in 2012 to 54 million 300 thousand tons in 2017, accounting for more than 50 50% of the world's total.

In 2017, China's textile and clothing exports amounted to US $274 billion 510 million.

China's textile and clothing exports account for 38% of global textile and clothing exports.

　　他表示，当前，我国的纤维新材料技术实现重大突破，已成为高新技术纤维生产品种覆盖面最广的国家，高性能纤维产能、潜在消费量世界第一，部分高新技术纤维的生产及应用技术达到国际领先水平，常规纤维的多功能化、高性能化和低成本处于领先国家行列;纺织产品加工技术不断得到新提升，纺纱织造注重新原料的应用和生产加工工艺的创新，产品品种不断丰富，附加值不断提高，纺织加工设备向连续化、自动化、高速化、信息化方向发展，特别是加快了对自动络筒、紧密纺、细纱带集体落纱、细络联、喷气涡流纺、转杯纺等适用新技术的使用，适应了国内外市场的需求;印染节能减排与资源循环利用取得新成效，水耗、能耗、污染物排放明显下降，废水处理能力、水重复利用率逐年提高，印染行业清洁生产、自动化控制水平大大提升，工艺参数在线采集

The digital printing technology represented by color printing has been commercialized, and some enterprises have broken through the whole process of digital printing technology. The rapid development of industrial textiles has expanded the extension of textile industry, and has become an important part of the national strategic emerging industry. It is a diversified high-tech industry that goes beyond traditional textile and across many fields. The textile equipment technology and manufacturing level have been greatly improved, the domestic market share of the domestic textile equipment has reached over 80%, the localization rate of the key parts of the domestic high-end equipment has reached over 50%, the manufacturing level and competitiveness of the domestic textile machinery have significantly improved, and the deep integration of textile two has become a new highlight in the industry. Information technology has been gradually applied in the textile industry's design, production, marketing, logistics and other links. The support force of China's textile technology innovation continues to grow, and the independent innovation ability of the textile industry has been significantly improved. Automatic control, automatic weighing and conveying of chemicals, digital inkjet printing and

In addition, he also focused on the strategic orientation of China's textile technology development, introduced the "new positioning" of China's textile power, the mission of textile technology development, and the direction of science and technology development of China's textile industry in 13th Five-Year. Focusing on the development of textile science and technology, the five key tasks, the target and roadmap, the next stage of technological development and the vision of China's textile technology development were introduced.

Yang Jun, Deputy Secretary General of the China Textile Industry Federation, pointed out in the speech on the theme "promoting the integration of production and promoting the high quality development of the textile industry". As of December 31, 2017, a total of 3485 listed companies in the Shanghai and Shenzhen two cities had a total market value of 56 trillion and 710 billion.

In 2017, the number of listed companies increased by more than 12% over the previous year. A total of 438 enterprises achieved IPO throughout the year, including 215 of the Shanghai Stock Exchange, 223 of the Shenzhen Stock Exchange, 380 of which had gone through, 218 billion 600 million yuan of IPO financing, and the number of IPO enterprises and the scale of financing were close to the highest level in history.

In 2017, the listed companies completed a total refinancing of 800 billion yuan, and completed a merger and acquisition paction amounting to 1 trillion and 870 billion yuan.

Meanwhile, the number of newly listed textile and apparel companies has reached 20 annually. The proportion of high-tech enterprises representing textile fashion, clothing and clothing, green new materials and so on is about 84%, and the amount of financing exceeds 13 billion.

On the whole, the industry is not fully aware of the industry and financial cooperation, and the participation consciousness is not strong enough. The capital is not fully aware of the textile industry, and the cooperation is more selective; the textile industry chain and capital integration is not high, and the diversified industrial and financial cooperation is insufficient; the number and scale of the listed companies are not in line with the contribution of the industry; the profitability and refinancing ability of the listed companies are not strong; the institutional mechanism for promoting the development of the textile and small and medium enterprises is to be improved; the innovation capability of the financial products and services for the textile industry is not strong; the cooperation between the intermediary organizations such as industry enterprises and investment institutions and associations is not large; and the industry itself lacks enough publicity for the capital.

Undoubtedly, the task of quickening the integration of textile industry and finance is arduous, but at the same time, the space is huge.

Over the past few years, China Unicom has been developing various forms of services to promote the work of industry and finance, and strengthen the research, exchange and docking of the industry's financial and industrial integration.

In April 2016, the China Textile Industry Enterprise Management Association established the "investment and financing committee", which covers enterprise loans, leasing, investment financing, mergers and acquisitions, and industrial chain demand docking. In April 9, 2018, in conjunction with the adjustment of the Textile Association of the General Accounting Association of China, the general Accounting Committee of the China textile industry enterprise management association was established. In 2017, the China Textile Union decided that the China spinning Asset Management Co., Ltd. was the main institution for the listing of service industry enterprises, and nurturing and recommending enterprises to achieve IPO.

In July 2018, the China Textile Federation officially released the three year plan for the integration of industry and finance in the textile industry. In August 2017, the China Textile planning and Research Association organized the launching of the "confederation of Chinese textile and apparel companies" to strengthen the links and exchanges between the listed companies in the industry and realize resource sharing. At present, the contents and objects of the work of the three spin off units belong to different units, each has its own advantages, and has formed a good cooperation mechanism, which is working together to promote a new stage in the industry's financial and industrial work.

He stressed that China's textile industry plays an important role in the national economic construction, and that capital and industry are interdependent and mutually reinforcing.

Capital is the source and motive force of industrial development. The profit of industrial development will increase capital accumulation and expand capital operation space.

The pformation of China's economy and the realization of high-quality economic growth have never been supported by the capital market like today. Therefore, the next ten years of China's capital market will be the key ten years. We need to further promote the marketization of the financial industry. As an international competitive advantage, China's textile industry must make full use of this development opportunity, and integrate and promote industrial capital and financial capital, so as to promote the continuous growth of the economy.

In addition, in order to achieve the high quality development of textile industry, we need to further enhance the consciousness of capital operation of entrepreneurs, improve the understanding of financial institutions, strengthen the organization and leadership of industry and finance work, focus on the basic services of the industry, innovate the investment and financing mode, expand the financing channels, and raise both direct and indirect financing.

Li Jianhua, chairman of Wan Shi Li silk culture Limited by Share Ltd, took the "innovative password of traditional enterprise pformation and listing" as the theme, and shared the historical development of silk industry and the pformation and innovation of silk enterprises in the new period, and combined with the experience of enterprise development.

He introduced that in the 80s of last century, it was the golden period of the silk industry development. It occupied the 1/3 of foreign exchange at that time. In the early 90s, it was flourishing. Then, with the shrinking of the market, a large number of enterprises went bankrupt and went bankrupt and entered the throes of pformation. In the early twenty-first Century, the silk industry began to plough deep into the domestic market, and launched a magnificent pformation.

Wan Shi Li took advantage of activities such as Shanghai APEC conference, Beijing Olympic Games, Shanghai World Expo, Guangzhou Asian Games, Beijing APEC conference, Hangzhou G20 summit, Beijing "one belt and one road" Summit Forum, and so on, deeply digging the silk culture, successfully launched the brand awareness, and made Chinese silk go to the world.

In the face of future development, he stressed that pformation of traditional textile enterprises in the new era requires technological innovation, business model innovation and talent innovation.

For example, the use of big data to subvert traditional printing technology has won the favor and cooperation of LV, Hermes and other international brands.

In the face of Internet and big data era, traditional enterprises need to innovate channels, multilevel innovation, multi service innovation, multi factor innovation, and more resources cooperation and innovation, strengthen resource integration and cross-border cooperation, and create new image of the industry.

Xia Guoxin, chairman of Shenzhen song's clothing Limited by Share Ltd, shared the experience of song and Si costumes in investing and financing.

He said that for enterprises, the pursuit of investment certainty, security, in order to operate steadily for a long time.

In investing, he stressed that enterprises should resist short-term temptation and remain sober at all times. They can rely on capital strength to invest in acquiring brands instead of building brands themselves, and strengthen the management after investment with the help of capital strength.

In addition, he said that when investing, he should choose a better organization to investigate and attach importance to the brand with good prospects, so as to achieve a detailed understanding of the brand and promote mutual complements.

Chen Jiwu, chairman of Shanghai Kai Shi Yi Zheng Asset Management Co., Ltd., with the theme of "how to make use of the capital market stronger and bigger" in the complex and changeable internal and external environment, analyzes the current China's economy and market from the perspective of international perspective. He points out that from a historical perspective, any industrialized country in the world will face enormous pformation and upgrading pressure, and China is no exception.

Faced with the pressure of pformation, China is not a declining trend. With the most complete industrial system in the world, the huge domestic demand market, the perfect economic supporting system and infrastructure system, and the determination and vitality of reform and opening up, China's opportunities outweigh the challenges.

He stressed that the current textile and garment enterprises should enhance their confidence and learn to rely on capital markets to help enterprises grow stronger and stronger, especially those of listed companies.

In the past 40 years of reform and opening up, the textile industry has continuously promoted total factor productivity and value-added products, forming the most complete industrial chain in the world, achieving a leap from scale development to quality development, with the advantages of huge volume, perfect industrial chain and strong ability to resist risks.

At present, the internal and external situation and structural changes are both challenges for the development of the textile and garment industry, as well as opportunities for structural adjustment in the industry.

Enterprises should seize the opportunity of the whole industrial chain from the downstream and middle reaches to the upstream, merge and expand under the background of supply side reform, integration and differentiation of industries, and cooperation and symbiosis between industry and capital.

He suggested that in the future, the textile industry could form an industrial investment fund and an investment union, and set up a "ETF public fund for textile industry" based on the listed companies in the textile industry.

Chen Guochao, managing director of Changjiang Securities Underwriting sponsor Co., Ltd., delivered a speech on the capital operation course, characteristics and prospects of the textile industry's private placement, listing and mergers and acquisitions.

He first introduced the current situation of the textile industry listing, the impact of policy changes on the listing and financing, and introduced in detail the capital operation process and characteristics of textile industry in recent years IPO, mergers and acquisitions and refinancing through data.

He revealed that the number of IPO queues was reduced under the influence of many factors. However, the rate of attendance is expected to rise as a result of the trial.

He suggested that information disclosure is getting stricter and stricter, the demand for verification is getting higher and higher, and the real threshold of listing is gradually improving. Enterprises should plan early, hire professional institutions in a timely manner, integrate the associations and industrial chains, PE capital resources, and integrate the sources of securities, accountants and lawyers, and select the appropriate execution team.

Zhu Yong, President of Orient International (Group) Co., Ltd. introduced the pformation and upgrading of Shanghai textile group.

At present, the group has more than 100 manufacturing enterprises, accounting for nearly 20% of its revenues. It has second of the world's automotive interior, second of the world's fashion bags, fourth of the world's sweaters, and a number of international garment brand design and processing enterprises. It has three brands including three guns, Prolivon, conch, min Guang, Lily and hangers, and has nearly 4000 retail terminals in China.

Among them, textile and clothing exports all over the country second; automobile interior decoration makes second of the world; fashion bags make third of the world; woolen sweaters make fourth of the world; the market share of the three gun underwear is the first in the country for 21 consecutive years; the leading global ranks of Shanghai fashion week influence; the world's only polysulfonamide fiber high temperature resistant fiber; Rio's bamboo fiber technology is the only one in the world.

In recent years, through the implementation of the development strategy of "technology and fashion", Orient International (Group) has upgraded from the traditional textile manufacturing industry to the high-end manufacturing industry such as industrial textiles and new functional chemical fiber, and has pformed from textile manufacturing to international trade, brand marketing, fashion industry and other modern service industries. From the administrative coloring management system to marketization, substantialization and collectivization, the pformation from local state-owned enterprises to pnational groups.

In the future, the group will take the fashion industry as the main body, take the health industry and the supply chain service as two wings, take the technology industry, the industrial real estate and the financial investment as the support, implement the global layout and pnational operation, and become a multinational enterprise group with international competitiveness and brand influence.

Yu Yizheng, executive vice president of the China Textile Planning Research Association, issued the results of the textile industry's production and financial results. He introduced in detail the comprehensive performance evaluation of the operation and development of the textile and apparel listed companies, "A competition" evaluation system, issued "2017 Shanghai and Shenzhen two cities" ranked 2017 in the Shanghai and Shenzhen two textile and garment listed companies in the 2017 market value, "2017 annual Shanghai and Shenzhen two textile and garment listed companies ranked thirty strong", "2017 annual Shanghai and Shenzhen two textile and garment listed companies ranked the highest net profit", "the annual Shanghai and Shenzhen textile and garment listed companies' net assets yield (weighted) ranked strong."

(see Annex)

At the meeting, Liu Lin, general manager of Shandong Kangping Na Group Co., Ltd., Mr. Bao Lou, chairman of Zhejiang Beauty Group New Material Group Co., Ltd., Yang Xiaofei, general manager of Beijing Meilun Technology Co., Ltd., Hu Guangmin, chairman of Hayes Moore Biotechnology Co., Ltd. and representatives attending the meeting exchanged experiences and experiences in the discussion of enterprise integration.

Kangda law firm, Ye Hui, international partner of Tian Hao, Tian Ren, Pan Zhengrong, executive director of Softbank China capital, Song Qi, general manager of Cci Capital Ltd of general technology group, Le Youhua, deputy director of PetroChina textile department of China International Engineering Consulting Company, Yu Tiecheng, President of Shanghai Kai Shi Yi Zheng Asset Management Co., Ltd., etc., have launched a dialogue on hot topics of enterprise financial cooperation, and discussed and exchanged in-depth discussions on how to promote enterprise financial cooperation and achieve high quality development.

In December 2nd, in order to give full play to the comprehensive advantages of "policy striving, government coordination, capital docking industry services", we should promote the integration of industry and finance, and cultivate and promote the leading enterprises of textile leading enterprises in a phased, multi-channel and all-round way. We should refinance, annex and reorganize SMEs and raise funds, so as to promote the docking of key industries and enterprises with capital and enhance the market capital operation ability of enterprises. Guided by the Ministry of industry and information technology, the Shanghai stock exchange, China Textile Industry Federation, the China Textile Industry Enterprise Management Association, the China Textile Planning Research Association, and China spinning Asset Management Co., Ltd. hosted the China Textile Industry Cooperation Conference and investment and financing training seminar held on the Shanghai securities exchange.

Wang Xinzhe, chief economist of the Ministry of industry and commerce, Sun Ruizhe, President of the China Textile Industry Federation, vice chairman of the Shanghai stock exchange, deputy director of the stock exchange, and other leaders and guests, more than 100 representatives of relevant enterprises and financial executives attended the training.

The training was presided over by Duan Xiaoping, vice president of China Textile Industry Federation.

Wang Xinzhe, chief economist of the Ministry of industry and information technology, said in his speech that the textile industry is an important industry related to the national economy and the people's livelihood. Textile and garment exports account for 1/3 of the world's total, and it has become the world's largest producer and export of textile and clothing.

However, we should also see that in the first three quarters of this year, the main business income, profits and investment of the textile industry continued to grow, but the growth rate was lower than that of the same period last year.

These problems are mainly due to the fact that China's textile industry is not strong in innovation capability, low in equipment and technology, and few in international famous brands.

These problems are our "growing pains" and the key issues to be solved next.

He pointed out that from the perspective of the textile industry, to achieve pformation and upgrading, we must integrate with finance deeply.

The China Federation of textile industry has made the work of industrial and financial cooperation as an important task in the development of the industry, and actively promoted its implementation.

We believe that with the concerted efforts of all of us, the textile industry will be able to maintain high growth at medium and high speed and make positive contributions to the high quality development of our economy.

Next, the Ministry of industry and Commerce will launch a series of new policies and measures to solve the problem of financing difficulties, and further deepen the cooperation of industry and Finance with the "one line, two sessions" and the Ministry of finance, combined with relevant departments and local situations.

"The development of the textile industry in the new situation calls for the full play of the key role of the capital market, optimizing the allocation of financial resources, and promoting the quality pformation, efficiency pformation and dynamic pformation of the textile industry, so that the textile industry can create a new source of adequate liquidity and make the textile industry full of vitality," he said in his speech.

In the textile industry, the Shanghai Stock Exchange visited Suzhou, Suzhou, Baoli, Guangdong, Quanzhou, Haitian, and other key enterprises to be listed, and in-depth understanding of the business and listing barriers.

From the perspective of service effectiveness, 132 new economic enterprises and 219 hi-tech enterprises have been listed on the Shanghai stock market since 2017, accounting for 49% and 82% of the number of new listed companies in the same period, effectively optimizing the structure of Shanghai listed companies.

Under the guidance of the SFC, the Shanghai Stock Exchange will adhere to the problem awareness and problem orientation. It aims at improving the inclusive degree of agreement control, different voting rights structure and corporate profitability in view of the characteristics and needs of science and technology enterprises, so as to enhance the ability of capital market to serve Science and innovation enterprises.

At the training meeting, He Jiangli, a listed Center Manager of the Shanghai Stock Exchange, a manager of listed companies, a manager Shi Jinjing, an assistant director of the bond business center, and a manager supervised by a listed company, Song Qi, respectively, gave a detailed explanation and detailed introduction to the key points of the listing of enterprises, merger and reorganization, resumption of information and supervision of information disclosure, bond financing tools and policies, and the overall planning and practical operation of the equity incentive plan to be listed enterprises.