The gradual but widespread declines in underwriting standards, breakdowns in lending oversight by investors and rating agencies, and increased reliance on complex and opaque credit instruments led to the current set of circumstances in which lenders are skittish about lending, borrowers are skittish about borrowing, and investors are skittish about investing.
It is a great pleasure to attend this gathering at the invitation of Shenzhen Stock Exchange and the 28 companies. Today, the Growth Enterprise Market will see the listing of the first 28 companies, which is an event long awaited by the financial community, the scientific and technological circle and entrepreneurs.