Industry Insiders Believe That GEM Encounters "Troubles" In Growth

The 2nd China (Shenzhen) in 2010 GEM The summit was held on the 26th. As for the GEM, which has been launched for nearly eight months, participants believed that it would shoulder the historical burden of promoting China's economic restructuring. However, at present, the structural bubble of the GEM has appeared, and there are still growing "troubles" such as excessive fundraising and high P/E ratio. These problems need to be solved gradually in the development. Chen Hongqiao, deputy general manager of Shenzhen Stock Exchange, said that we should build the entrepreneurial chain with the GEM and accelerate the innovation process of entrepreneurial system and mechanism.

Wu Xiaoqiu, director of the Institute of Finance and Securities of Renmin University of China, believes that, GEM The launch provides a historic opportunity for the strategic division of labor between Shenzhen and Shanghai Exchanges. Shanghai will become a major blue chip market in China in the future, and Shenzhen will become the most dynamic growth market of the GEM. In addition, the future of Hong Kong Stock Exchange will be RMB offshore business.

Chen Hongqiao, deputy general manager of Shenzhen Stock Exchange, said that GEM Build the entrepreneurial chain, promote the interactive mechanism of entrepreneurs, entrepreneurial enterprises, venture capital and GEM, and accelerate the process of innovation of entrepreneurial system and mechanism. He said that taking the GEM as the link can play a special role in activating the entrepreneurial mechanism. At present, the GEM has highlighted its support for emerging industries and innovative enterprises. The average R&D investment proportion of GEM enterprises is higher than that of SMEs, and they are mainly concentrated in electronic information, biomedicine, chain operation and other fields. These are new industries supported by the state, and innovative enterprises have outstanding growth potential. In addition, with the accelerated development of multi-level capital markets in recent years, venture capital and industrial funds will become the main channels for investment and financing of scientific and technological innovation. Venture capital has played a special role in guiding and gathering social capital, providing value-added services, discovering and cultivating enterprises, and the GEM has activated entrepreneurs to a certain extent.

He believes that there are two problems to be solved in developing emerging industries in the future: how to avoid duplication, homogeneity and low-end in the process of developing emerging industries; How to establish a market mechanism to ensure investment efficiency in the process of cultivating emerging industries and investing in innovative enterprises. At present, China is rapidly completing the transformation from the agricultural economy to the industrial economy era, and is also facing the transformation from the industrial economy era to the knowledge economy era. The GEM should pay special attention to the development direction of financial technology, personnel technology, knowledge technology and leading industries in the knowledge economy era.