CSRC intends to optimize the refinancing system: establish a shelf issuance mechanism and raise the limit for small and fast offerings to 1 billion yuan.

According to the Smart Finance and Economics APP, on July 3rd, the China Securities Regulatory Commission publicly solicited opinions on improving the rules for refinancing of listed companies, optimizing the small-scale and fast refinancing system. Under the premise that the planned financing does not exceed 20% of net assets, the upper limit for small-scale and fast financing for Shanghai and Shenzhen listed companies has been raised from 3 billion yuan to 6 billion yuan, and the upper limit for small-scale and fast financing for super-large enterprises with net assets exceeding 100 billion yuan has been raised to 10 billion yuan; the upper limit for small-scale and fast financing for companies listed on the Beijing Stock Exchange has been raised from 1 billion yuan to 2 billion yuan. At the same time, the authorization for small-scale and fast refinancing has been changed from being authorized by the annual shareholder meeting of the listed company to being authorized by the shareholder meeting of the listed company, increasing the flexibility of financing.