Xi'an to further improve quality of listed companies

Recently, Xi'an, capital of Northwest China's Shaanxi province, enacted plans to further improve the quality of its listed companies.

It has been proposed that by 2025, more than 120 Xi'an companies will be listed in and outside the city.

The city will also cultivate four leading enterprises with market values of 100 billion yuan ($15.48 billion), five pillar enterprises with market values of 50 billion to 100 billion yuan, and 20 key enterprises with market values of 10 billion to 50 billion yuan.

In addition, with the help of the Xi'an Silk Road Financial Center, the city will develop venture capital and production investment and improve supporting policies and measures for the development of the fundraising industry.

The city will also cultivate and strengthen local venture capital institutions and incentivize nationally renowned venture capital institutions to invest in and set up operations in Xi'an.

Companies involved in key and core technology will get help in listing on the Science and Technology Innovation Board.

For the actual controllers, controlling shareholders, directors, supervisors, and senior managers of listed companies, training will be carried out at different levels to standardize corporate governance and internal control.

Listed companies will be encouraged to carry out resource reorganization around their main businesses and throughout the industrial chain through asset reorganization, acquisitions and spin-offs, and listings.

The city will also help listed companies raise funds through private placement, allotment, issuance of various bonds, and securitization products.

In addition, listed companies will be encouraged to innovate in key core technologies through the establishment of technological innovation centers, R&D institutions, and investment increases in scientific research.