⊙记者 马婧妤

⊙ reporter MaJing fung

　　记者从权威渠道获悉，在去年出台《关于进一步深化新股发行体制改革的指导意见》的基础上，下一阶段发行体制改革在提高资源配置效率、为投资者提供优质投资产品和渠道的整体改革原则下，拟定了五方面工作重点，其中包括进一步改善主板、中小板、创业板的发行条件。

The reporter learns from authoritative sources,Issued in last year[On further deepening the reform of new shares issued guidance]On the basis of,The next phase distribution system reform in improving the efficiency of resource allocation/For investors to provide quality products and channels of the overall reform principle,Has five aspects focus,Including the further improve the mainboard/Small and medium-sized plate/The issuance of the gem.

　　一是加大多层次资本市场建设。加快全国性场外市场建设步伐，尽快将条件比较成熟的国家级高新技术园区纳入试点范围。同时，进一步规范发展区域性股权交易市场，逐步改变企业只能走上市一条路、“千军万马过独木桥”的状况，更好满足不同成长阶段企业的价格发现和投融资需求。

First, strengthen the construction of multi-level capital market.Speed up the construction of a national over-the-counter market,As soon as possible will be more mature the condition of national hi-tech park included in the scope of the pilot.At the same time,Further regulating the development of regional equity market,Gradually change enterprise listed can only go one way/"An army that wooden bridge"The status of the,Better meet different growth stage of the price discovery and financing needs of the enterprise.

　　二是进一步丰富市场品种，积极推动公司信用类债券市场发展。调整发行框架，放松期限限制，以非公开发行为重点，加快创新继续推出符合市场需求的信用类债券品种，推动银行间交易市场和交易所市场的互联互通。

Second, further enrich the market,Actively promote the company credit bonds market development.Adjustment issue frame,Relaxation time limit,To non-public development activities,Speed up innovation to produce to meet the market demand of credit bonds varieties,Promote the inter-bank market and the exchange market share of the Internet.

　　三是进一步改善主板、中小板和创业板的发行条件，健全对于知识创新型、现代农业、文化创意产业等新型业态和商业模式企业的信息披露制度和市场准入安排，逐步淡化对盈利能力的判断，增强市场信息披露的弹性和适应性。

Three is to further improve the mainboard/The issue of small and medium-sized plate and gem conditions,Perfect for knowledge innovation/Modern agriculture/Cultural creative industry, and other new formats and business model of enterprise information disclosure system and market access,Gradually fade the profitability of the judgment,Enhance the flexibility of market information disclosure and adaptability.

　　四是以理性合理的询价制度为重点，强化定价过程中的市场约束，持续推动发行人、保荐机构及其他中介机构等各类主体尽职履职、诚实守信。同时，进一步倡导价值投资理念，强化舆论宣传、风险揭示和投资者教育，继续加大打击炒作新股的力度。

Four is rational and reasonable inquiry system for key,To strengthen the market constraints in the process of pricing,Continue to promote the issuer/The sponsor and other intermediary agencies and other kinds of main bred due diligence/To be honest.At the same time,To further advocate the value investment idea,Strengthen the publicity/Risk reveals and investor education,Continue to strengthen blow hype of new shares.

　　五是严格执行证券法相关规定，坚决打击发行人粉饰业绩、欺诈上市、虚假披露等行为，严惩保荐机构虚假记载、误导性陈述和重大遗漏以及帮助发行人过度包装、合谋造假等违法违规行为，切实保护投资者的合法权益。

Five is strictly enforced securities regulations,Resolutely against the issuer powder performance/Fraud listed/False disclosure, etc,Severely punished sponsor false/Misleading statements or major omissions, and help the issuer excessive packaging/Collusion, fraud and other illegal behavior,To protect the lawful rights and interests of investors.