2. At the end of the last trading day, the market value of securities assets under the investor's name is more than 5 million yuan. Securities assets include customer transaction settlement funds, stocks, funds, bonds, and collective wealth management products of securities companies, except credit securities account assets.
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The "New Third Board" business is the economic business of the national share transfer system for small and medium-sized enterprises. In terms of location and legal positioning, the national share transfer system for small and medium-sized enterprises is the same as the stock exchange, and it is an important part of the multi-level capital market system, mainly serving the development of innovative, entrepreneurial and growing small and medium-sized enterprises.
For natural person investors, before 10 trading day, the selection layer, the innovation layer and the basic layer respectively require that the daily assets of the securities account and the capital account in their own name shall not be less than 1 10,000 yuan,10.5 million yuan and 2 million yuan (excluding the funds and securities that investors integrate through margin financing and securities lending). In addition, natural person investors need to have investment experience, work experience or work experience. Specifically, it refers to securities companies, futures companies and their subsidiaries with more than 2 years of experience in securities, funds and futures investment, or more than 2 years of experience in financial product design, investment, risk management and related work, or under the circumstances specified in Item 1, Paragraph 1, Article 8 of the Measures for the Administration of Suitability of Securities and Futures Investors, as well as subsidiaries of securities companies and futures companies registered by industry associations. Any of the above investment experience, work experience or work experience can be satisfied.
For example, in the feasibility analysis of the listing of the New Third Board 1 foreign-invested enterprises, foreign-invested enterprises are generally established according to the aforementioned laws and regulations, so foreign-invested enterprises, whether they are Sino-foreign joint ventures, cooperative enterprises or foreign-invested enterprises, are generally limited liability companies. Therefore, before the listing of the New Third Board, foreign-funded enterprises will generally carry out shareholding system reform and change the company as a whole into a joint stock limited company. Among them, a wholly foreign-owned enterprise is a wholly foreign-owned enterprise. Before it is changed into a joint stock limited company as a whole, China shareholders must be introduced to change the wholly foreign-owned enterprise into a Sino-foreign joint venture through equity transfer or capital increase and share expansion. However, it should be noted that according to the Interim Provisions on Several Issues Concerning the Establishment of Foreign-invested Joint-stock Companies, enterprises and other economic organizations or individuals jointly invest in the establishment of Sino-foreign joint ventures and Sino-foreign cooperative ventures. As mentioned in Hunan Province, the content of the procedure has broken through the provisions of the upper-level laws such as the Sino-foreign Joint Venture Law and the Sino-foreign Cooperative Enterprise Law, and the effectiveness of the provisions of Hunan Province is in doubt. Even in the process of listing the New Third Board, the national share transfer system recognized its effectiveness, and it also set up Sino-foreign joint ventures and Sino-foreign cooperative enterprises for the same investment, and did not explicitly stipulate that foreign-invested companies should be included. Considering the legal compliance of establishing joint-stock companies and avoiding affecting the listing progress, we suggest that domestic natural persons be carefully introduced as sponsors when establishing foreign-invested joint-stock companies. In the second case, the current laws and regulations clearly stipulate that "foreign shareholders and companies, enterprises or other economic organizations in China jointly establish foreign-invested enterprises", and * * * joint establishment can be understood as * * * joint investment. Therefore, the current laws and regulations do not prohibit domestic natural persons from becoming foreign-invested joint stock limited companies through private placement or equity transfer.