On July 16th, the launch ceremony for the "Innovative and Specialized" specialized board on Sichuan's regional equity market, along with an empowering conference for such enterprises, was held in Chengdu. As a significant initiative in the inaugural year of the 15th Five-Year Plan to advance the construction of the Western Financial Center, the specialized board has now officially entered a phase of regularized operations. During the event, the first batch of 132 companies were collectively listed on the board. Concurrently, the provincial Department of Economy and Information Technology released an enterprise empowerment voucher policy, providing tangible financial support to reduce the costs associated with company listing and cultivation. The first group of 132 companies has now been listed.
This event was guided by the Provincial Financial Affairs Office, the Department of Economy and Information Technology, the Sichuan Securities Regulatory Bureau, and the Chengdu Municipal Financial Affairs Office. It was hosted by Tianfu (Sichuan) United Equity Exchange Center (hereinafter referred to as "Tianfu Equity Exchange Center") with support from the Sichuan Branch of the Bank of Communications. On-site, the Tianfu Equity Exchange Center signed strategic cooperation agreements with banks and securities firms to provide integrated financial services for enterprises. The Sichuan Branch of the Bank of Communications introduced exclusive financial products tailored for innovative and specialized SMEs. Tianfu Securities offered professional insights on listing and financing strategies.
The "Innovative and Specialized" specialized board is constructed and operated by the Tianfu Equity Exchange Center. In November 2025, the board formally received filing and public notice from the China Securities Regulatory Commission. The board's primary focus is building a tiered cultivation system for high-quality small and medium-sized enterprises, with a core emphasis on integrated financial services and listing-standard cultivation. It is dedicated to becoming a central platform for nurturing high-quality SMEs and preparing a reserve force for the capital market. According to the board's construction plan, the aim is to facilitate the listing and cultivation of over 300 enterprises by the end of 2028 and provide integrated financial services to more than 1,000 innovative and specialized SMEs.
How the Specialized Board Empowers Enterprises
The Tianfu Equity Exchange Center detailed the board's three major integrated financial service systems. In terms of basic capital market services, it aggregates professional resources from securities firms, accounting firms, and law firms to provide services such as training, policy linkage, and consultation. For investment and financing services, it relies on exclusive "equity-debt-loan" linkage products and uses regular roadshow matchmaking as a bridge to construct a comprehensive financial service system covering the entire lifecycle of an enterprise. Regarding listing cultivation and guidance, it collaborates with institutions including the Shanghai, Shenzhen, and Beijing Stock Exchanges, the Western Base of the National Equities Exchange and Quotations System, and the Capital Market Institute to offer "one-on-one" precise cultivation and expedited board transfer channels. Listed enterprises applying for future listing on the New Third Board can enjoy special support, including pre-application consultation, priority acceptance, and accelerated review.
The empowerment voucher policy announced at the event also garnered significant attention from enterprises. Empowerment vouchers are a universal policy tool designed to support enterprises in purchasing services during their standardized cultivation on the specialized board. They function as electronic "coupons" that can offset service costs, adhering to the principles of legality, compliance, fairness, impartiality, targeted support, settlement based on actuals, and timely redemption. They offer four key benefits to listed companies: first, financial support, with newly listed companies eligible for an annual quota of 80,000 yuan and previously listed companies eligible for 50,000 yuan, managed under a total quota system on a first-come, first-served basis and valid for the current year; second, coverage across four key growth stages: listing services, standardized governance, financing consultation, and listing cultivation; third, convenient application through the "Sichuan Provincial Enterprise Public Service Cloud Platform"; and fourth, policy stability, with the measures tentatively set for three years to ensure maximum awareness and accessibility.
"The establishment of the 'Innovative and Specialized' specialized board is a crucial measure for our province to build a high-quality regional equity market, improve the multi-level capital market system, and support innovative SMEs in connecting with the capital market," stated a relevant official from the Provincial Financial Affairs Office. They expressed active support for the Tianfu Equity Exchange Center in optimizing the functions of the regional equity market, building a comprehensive enterprise listing service platform for the province, and promoting synergistic linkages between the specialized board and platforms such as the "Venture Capital Tianfu · Weekly Meet" investment and financing roadshow platform and the "Chuan Yi Dai" platform. The focus will be on areas including improving the enterprise database, recommending companies for roadshow activities, assisting with corporate financing, and accelerating board transfers and listings, thereby providing full lifecycle tracking services for enterprises.
Comments