Problems And Countermeasures In The Listing Process Of The New Third Board Of Enterprises

SMEs in China are limited by internal and external factors,and have practical characteristics such as large number,large scale,difficult financing,and slow development.The establishment of the New Third Board is the only way for China's multi-level capital market to establish and the bottleneck of SMEs' development.In recent years,China's new three board transactions has rapid development and expansion from the initial pilot to the subsequent spread across the country.The amount of the listed SMEs increases year by year,which has risen from the original more than 1,000 to 10,000 companies,for many quality SMEs have provided a broader financing platform and opened the door to capital market financing.Due to the restrictions of geographical conditions,regional economic conditions,their own scale,and policy reasons,it is difficult for China's SMEs to raise large amounts of funds to support their own operations at the beginning of the establishment of the company.This is also a recognized problem in the academic world-the financing difficulties of SMEs.Although there are restrictions on external conditions,it is an important factor for enterprises to improve their business capabilities and enhance their market competitiveness.The changes in the macroeconomic environment and the continuous improvement of various policies have had an impact on the development of SMEs.More and more policies are tilting towards the development of SMEs,especially the establishment of the New Third Board market,opening a new chapter for the financing and development of SMEs.It not only broadens the financing channels for SMEs,provides a financing platform,but also promotes the survival of the fittest and maintains the orderly development of high-quality SMEs.Therefore,it is of great practical significance to conduct research on the listing of SMEs in China.The problems existing in the listing of the New Third Board of China's SMEs are as follows:First,in terms of corporate governance,there is systematic problem of imperfect ownership structure.Second,in terms of corporate finance,there are related party transactions,capital occupation and other key issues.Third,the regulatory requirements for the listed companies and listed companies are low,and it is necessary to continuously strengthen supervision and continue to promote tiered management.Aiming at the common problems of the listing of the New Third Board of SMEs,Fujian A Co.,Ltd.is taken as an example,combined with the New Third Board theory,and the paper analyzes the problems existing in the company's standard operation in the process of listing the New Third Board and proposes corresponding solutions.To provide certain reference and suggestions for the common problems of SME companies in the process of listing the New Third Board.