First of all, accumulate experience for the comprehensive promotion of the registration system. There are still many uncertainties in the registration system that has just been listed. It takes a period of trial operation to improve more systems, ensure fairness and justice as much as possible, avoid illegal manipulation, enable all investors to participate in transactions according to laws and regulations, avoid reducing investment risks as much as possible, and ensure transaction continuity and market price discovery function. During the trial operation, efforts will be made to accumulate experience, improve the authenticity and transparency of the issuer's information disclosure, and truly hand over the right to choose to the market.
Second, promote the comprehensive reform of China's market. In order to promote this market reform, priority was given to the trial operation of the science and technology innovation board last year. On this basis, the GEM registration system is now in operation, which can reform the market system, trading system and investor suitability management by increasing stocks, better promote the improvement of the basic system of the capital market, and at the same time, support Guangdong-Hong Kong-Macao Greater Bay Area and serve Shenzhen to build a pioneering demonstration zone in Socialism with Chinese characteristics, better serve the real economy and promote its better development.
Finally, it has brought huge economic benefits to the market. Judging from the listing of the first batch of 18 companies registered on the Growth Enterprise Market, the market-oriented issuance pricing mechanism has effectively played a role. At the listing ceremony, the first batch of 18 listed companies, namely Weikang Pharmaceutical, Kangtai Pharmaceutical, Shang Feng Culture, Meichang Shares, Nanda Environment, Dahongli, Anke Innovation, Haichen Shares, Jieqiang Equipment, Shengyuan Environmental Protection, Landun Optoelectronics, Kabeiyi, Jiemeite, Outong, Huisheng Bio, Tianyang Technology, Mengtai Gaoxin, etc. Until the close of the day, the new shares of these 18 companies rose sharply across the board, driving the growth enterprise market index to rise by 1.98%, and the P/E ratio of issuance was between 19. 1-59.7 times, with an average of 39.3 times. The results of market-oriented reform can be described as remarkable.