On September 29, the people's Bank of China held a series of press conferences on "financial support insurance market entities" (the third). Luo Yanfeng, deputy director of the general office of the people's Bank of China, presided over the conference. Lu Dabiao, deputy director of corporate bond Department of China Securities Regulatory Commission, Yin Xingshan, President of Hangzhou central sub branch of the people's Bank of China, Cao Yuanyuan, Deputy Secretary General of interbank market dealers Association, and Wu Jun, general manager of Inclusive Finance Department of China CITIC Bank, introduced the work related to "supporting multi-channel financing of market entities".
In terms of capital market, Lu Dabiao said that on the basis of the establishment of the science and technology innovation board and the good start of the pilot registration system, the CSRC has continued to improve the basic system of the science and technology innovation board, and has supported a number of "hard science and technology" enterprises with national strategic significance such as SMIC to land on the board since this year. At the same time, we promoted the reform of the gem and successfully implemented the pilot registration system. In August this year, the first batch of 18 enterprises registered on GEM were listed successfully. In addition, we should continue to do a good job in the audit of stock issuance, steadily promote the normalization of new stock issuance in accordance with the concept of registration system, optimize the audit process, shorten the audit cycle, and support more qualified enterprises for IPO Financing and refinancing.
From January to August this year, a total of 227 enterprises were listed on the Shanghai and Shenzhen stock exchanges, with a total financing amount of 307 billion yuan. From January to August this year, the approved financing amount of 259 listed companies approved by the CSRC was 501.4 billion yuan. At present, the enterprises have completed the financing of 414.7 billion yuan.
In terms of the inter-bank bond market, Cao Yuanyuan said that in order to help corporate bond financing resist the impact of the epidemic, the association of dealers set up a green channel for registered issuance and launched epidemic prevention and control bonds. In order to meet the financing needs of large, medium and small enterprises, different industries and different fields, the dealers association actively promotes the optimization and improvement of relevant mechanisms of asset-backed notes (ABN), merger and acquisition bills, and bonds financing support tools of private enterprises, and innovates the introduction of asset-backed commercial paper (ABCP) to guide market entities to finance through these innovative tools. In addition, the construction of default disposal system has been continuously promoted to help investors take diversified risk disposal measures and complete default disposal quickly.
From January to August this year, the total amount of debt financing instruments issued was 6.07 trillion yuan, an increase of 39.58% year-on-year. The interest rate of debt financing tools decreased by nearly 30 basis points compared with the beginning of the year, saving financing costs of more than 100 billion yuan for bond issuing enterprises. In addition, with the support of private enterprise bond financing support tools, private enterprise bond issuance in the inter-bank market made further efforts. From January to August, nearly 350 billion yuan of private enterprise bonds were issued, with a year-on-year increase of 64%.
In terms of the exchange bond market, from January to August this year, non-financial corporate bonds in the exchange market issued 2.14 trillion yuan, a year-on-year increase of 37%, and realized a net financing of 1.47 trillion yuan. From January to August this year, the weighted average interest rate of corporate bonds (excluding convertible bonds and exchangeable bonds) was 3.74%, which was 66 basis points lower than that of the whole year of 2019. Among them, private enterprises issued 246.9 billion yuan of corporate bonds, a year-on-year increase of 23%, and realized a net financing of 74.8 billion yuan. By the end of August this year, the stock of private enterprise bonds on the exchange market was 1.12 trillion yuan, accounting for 14% of the total amount of non-financial enterprise bonds entrusted by the exchange.
Zhejiang is a big province of private economy. Yin Xingshan said that in recent years, Zhejiang has actively promoted enterprises and financial institutions to establish a diversified financing awareness and multi-party cooperation to create a good bond issuance guarantee mechanism for private enterprises. This year, 522.6 billion yuan of all kinds of corporate bonds were issued, including 281.3 billion yuan of corporate debt financing instruments, up 39% year-on-year. From January to August, the issuance of debt financing instruments by private enterprises in Zhejiang accounted for 22% of the country's total, and 24 enterprises were supported and promoted to issue 12.05 billion yuan of special debt for epidemic prevention and control.
