Core Viewpoint - The recent policy issued by the Central Committee and the State Council allows enterprises from the Guangdong-Hong Kong-Macao Greater Bay Area that are listed on the Hong Kong Stock Exchange to also list on the Shenzhen Stock Exchange, aiming to invigorate the capital market [1][3]. Group 1: Policy and Implementation - The Longhua District has launched a three-year action plan to promote the listing of companies already listed on the Hong Kong Stock Exchange to also list on the Shenzhen Stock Exchange, aligning with the new policy [1][4]. - The action plan includes enhancing the listing cultivation service system, broadening financing channels for enterprises, and increasing support for mergers and acquisitions [3]. Group 2: Economic Impact - The plan aims to make listed and prospective listed companies a backbone for high-quality economic and social development, focusing on a modern industrial system layout [3]. - Analysts believe that the return of quality technology companies from Hong Kong to A-shares will boost investor confidence in China's capital market and technology assets, contributing to high-quality market development [3]. Group 3: Specific Measures - The action plan proposes a tiered cultivation system for listed companies, creating a rich reserve cultivation library categorized into "startup, growth, and mature" stages [3]. - It emphasizes supporting enterprises in conducting upstream and downstream mergers and acquisitions, encouraging leading companies to strengthen and supplement their supply chains [3].

Core Viewpoint - Shenzhen's Longhua District has launched a three-year action plan to promote the listing of local enterprises, aiming to enhance the financial ecosystem and support high-quality economic development [1][2][4] Group 1: Action Plan Overview - The action plan focuses on the "1+2+3" modern industrial system layout, improving the listing cultivation service system, broadening financing channels, and increasing support for mergers and acquisitions [1][2] - It emphasizes the importance of listed and prospective listed companies as key drivers of high-quality economic and social development [1][2] Group 2: Specific Measures - The plan includes enhancing collaboration with professional financial research institutions, facilitating domestic and international listing policy consultations, and coordinating cross-border financial institutions to support enterprises going global [2][3] - It proposes organizing activities to promote the Hong Kong Stock Exchange and attract overseas exchanges to establish representative offices in Longhua [2][3] Group 3: Financial Support and Ecosystem - The plan aims to establish a multi-tiered capital market service for enterprises, focusing on improving the quality of industrial supply chains and supporting upstream and downstream mergers and acquisitions [3] - It includes setting up a special fund for mergers and acquisitions to attract major brokerage firms and large listed companies to participate in funding [3] Group 4: Broader Policy Context - The action plan aligns with the central government's recent directives to deepen reforms and expand openness in Shenzhen, enhancing its role in the Guangdong-Hong Kong-Macao Greater Bay Area [4][5] - It supports the integration of financial services with the real economy, particularly in technology and innovation sectors, to foster high-quality development [5][6]

Core Viewpoint - The "Three-Year Action Plan for Promoting Listing Cultivation Services in Longhua District" has been officially released to implement the spirit of the new "National Nine Articles" document, aiming to enhance the quality of enterprises and support their listing efforts [1][8]. Group 1: Overall Requirements - The action plan emphasizes the need to improve the listing cultivation service system, broaden financing channels for enterprises, and enhance support for mergers and acquisitions, focusing on the transition from small to standardized, refined operations, and ultimately to successful listings [5][8]. Group 2: Service Improvement Measures - The plan includes measures to enhance the service level for potential listed companies, utilizing AI technology for maturity assessments and providing tailored support through a dedicated app for policy guidance and operational needs [6][7]. - It aims to build a high-quality listing reserve cultivation database, integrating it with mechanisms for specialized and innovative enterprises, and identifying high-growth potential companies [6][7]. Group 3: Policy Support for Listings - The action plan outlines policies to support enterprises in mergers and acquisitions, establishing a project database and a special fund to facilitate cross-industry development for small and medium-sized enterprises [6][7]. - It also includes the creation of equity financing and investment project reserves to bolster the capacity of potential listed companies in the district [6][7]. Group 4: Space and Resource Guarantees - The plan emphasizes strengthening support for potential listed companies in securing office, research, and production spaces, promoting a collaborative model for industrial land use [7]. - It aims to develop a high-concentration "headquarters area" for listed companies in key districts [7]. Group 5: Ecosystem Optimization - The action plan seeks to expand the capital market network in Longhua, attracting leading financial institutions and establishing international listing exchange services [7]. - It aims to create a comprehensive investment ecosystem to position Longhua as a competitive cornerstone investor in the city [7]. Group 6: Risk Management - The plan highlights the use of AI for monitoring negative public sentiment related to potential listed companies and enhancing risk management through inter-departmental coordination [7][8]. Group 7: Context and Background - The "National Nine Articles" is a guiding document issued by the State Council in April 2024, aimed at enhancing the quality of the capital market, and Longhua District's action plan is the first listing cultivation policy released in Shenzhen following this document [8][9]. - Longhua currently has 40 listed companies with a total market capitalization exceeding 1 trillion yuan, and the listing reserve database includes 65 companies, predominantly in advanced manufacturing sectors [9].