From the policy point of view, the most direct benefit is the introduction of small and medium-sized innovative enterprises and the GEM registration system, which makes it easier for small and medium-sized IPO financing. At the same time, the policy also encourages the combination of traditional industries with new technologies and industries. At the same time, it is also stressed that in principle, the listing of traditional industries such as real estate enterprises is not supported.

In addition to small and medium-sized enterprises, brokers may become the biggest beneficiaries. The implementation of GEM registration system is good for investment banking, institutional business and brokerage business of securities firms. One is to shorten the IPO review time, the other is to lower the standard, and the third is to relax the price limit. All these are conducive to the growth of brokerage income and the improvement of performance.