BEIJING, March 15 /PRNewswire-Asia/ -- 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.