After the implementation of the registration system, a negative list of IPO registration and a one vote veto will be established, which will be one of the important responsibilities of the SFC.

As a negative list of IPO registration system, we should not only establish the blacklist standard of tax revenue, but also set up the standard of environmental blacklist, that is, the emission standards for non qualified enterprises, and the social security blacklist standard.

As long as the enterprise meets one of the negative list, it will be voted down by the SFC.

He said that the implementation of the negative list by the SFC is very large and has been reflected.

A few days ago, the national development and Reform Commission, the State Administration of Taxation, the Ministry of public security and other 21 departments signed the memorandum, the tax blacklist enterprises will be restricted IPO.

Its analysis means that the tax blacklist has been worked out and obtained.

Agreed that the future will not rule out the introduction of environmental protection blacklists.

For the possible implementation of the negative list of IPO, Wang Jin, partner of Hai Hua Yongtai law firm, said to the great wisdom news agency that the negative list was endorsed by the registration system, but the specific contents of the negative list need to be further refined.

For example, how to identify social security payments and whether there is a proportional requirement.

In practice, the reasons for the lack of social security are both enterprises and employees.

Vice president of the Supreme People's court

On the 27 day, the "Shanghai rule of law forum" revealed that there are mainly two options for the study of registration system at present: one is to maintain the mode of registration by the SFC, and the other is to conduct the listing audit; the other is to examine the listing application by the exchange, and form a model for registration with the SFC.

Many people expressed the expectation that regulators would eventually adopt second options, which would be listed on the stock exchange and then registered with the SFC.

A representative of Minsheng securities told the great wisdom news agency that it was inclined to the second option. Now the new three board registration system is more similar to the second one.

The IPO registration system can refer to the registration system of the new three boards and have some experience to learn from.

Investment bankers such as Soochow securities and ajian securities have indicated that they are inclined to the second option, which is relatively simplified.