"It only took officials several hours to deliver an enterprise qualification certificate," said Hu Jie from Wuhan Changli Glass (Hannan) Co, which is going through a series of listing procedures. Hu praised the highly efficient government services, especially the green channels created for firms preparing to go public, when he visited the bureau of housing and urban-rural development at Wuhan Economic & Technological Development Zone (WHDZ). According to Hu, it usually takes several days for the bureau to issue such certificates.
As the biggest glass manufacturer in Central China and a leader in the industry throughout China, Wuhan Changli Glass (Hannan) Co settled in WHDZ in 2006, and now boasts an annual income of over 2 billion yuan ($312 million).
The company has received relevant listing training from Hubei Securities Regulatory Bureau, and will officially hand out its listing application in May next year. The enterprise qualification certificate is one of the documents required for the application.
"Listing procedures are complicated for enterprises and involve many steps including registration, file submission, and application," said one official from the zone's financial office, highlighting the uncertainties surrounding the process which can hinder firms from going public.
Giving first priority to capital market deployment work, the zone has established a reserve of nearly 60 firms assessed as being competent to be listed. The government offers intensified assistance when these firms go through listing procedures.
