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十八届三中全会新政预示IPO体制即将迎来实质性的改革,新体制将进一步突出上市过程规范性、信息披露真实性及事后监管严格性。如何领会新时期的资本市场规则,做实各项IPO准备工作,是这轮改革对企业IPO提出的新挑战。与此同时,不断提高的IPO门槛,使并购重组成为企业进入资本市场的重要选择。工信部、发改委、国资委、证监会等十二个部委于2013年联合发布《关于加快推进重点行业企业兼并重组的指导意见》,为并购重组市场打开了方便之门,并购重组市场将日趋活跃。
The Third Plenary Session of the 18th Session of the New Deal indicates that the IPO system is about to usher in substantive reforms. The new system will further highlight the normative nature of the listing process, the authenticity of information disclosure and the stringency of regulatory compliance. How to comprehend the rules of the capital market in the new period and make every attempt to prepare for the IPO is a new challenge proposed by the current round of reform to the corporate IPO. At the same time, the ever-increasing IPO threshold makes M & A and reorganization an important choice for enterprises to enter the capital market. In 2013, 12 ministries and commissions including the Ministry of Industry and Information Technology, the National Development and Reform Commission, the SASAC and the China Securities Regulatory Commission jointly issued the Guiding Opinions on Accelerating the M & A of Key Industries and M & A and Restructuring markets. The merger and reorganization market will become increasingly active.