When China Securities Regulatory Commission (CSRC) Chairman Zhang Shenfeng recently conducted a survey in Zhongguancun, some enterprises claimed that high-tech innovation enterprises need strong support from the capital market. However, many enterprises in the park have a VIE framework with more than 200 shareholders. Compared with the current system, listing in the A-share market is very difficult. Zhang Shenfeng said that good businesses should be kept in China, so that good businesses can get listed as soon as possible. But to do this, there is the need for a huge reform in the Chinese listing and regulatory systems.