On February 18, 2019, the CPC Central Committee and the State Council published the Outline of Guangdong-Hong Kong-Macao Greater Bay Area Development Plan (hereafter the Outline), a comprehensive plan that covers all aspects of the Greater Bay Area development including strategic position, development goal and spatial layout. To construct the Greater Bay Area is a significant decision made by the CPC Central Committee with President Xi Jinping at its core, and a major national strategy planned, deployed and promoted by President Xi. As a big move to build a new pattern of all-around opening-up in the new era, it takes an important part in China's national development and will provide critical support to increase China's innovation ability and competiveness.
The Outline points out "support should be offered for Shenzhen to develop the capital market with SZSE as the core institution in compliance with the regulations and accelerate financial opening-up and innovation". SZSE will spare no efforts to implement the Outline to give full play to the capital market's function of serving the real economy and boost high-quality development of the Greater Bay Area. SZSE has always been committed to serving innovative tech firms, private companies and growing enterprises. By leveraging its advantages in innovative capital formation and role in optimizing resources allocation, SZSE becomes a major platform to implement national strategies like innovation-driven development. Statistics reveal that there are 458 SZSE-listed companies in the Greater Bay Area, accounting for more than 80% of the total publicly traded companies in the Greater Bay Area. SZSE has incubated a range of leading companies including Vanke, Gree and BYD. Currently, over 70% of the 2,100+ SZSE-listed companies are high-tech companies, and the proportion of high-tech and emerging strategic companies is increasing. The V-Next, SZSE's platform to facilitate innovative capital formation, has extended its reach to 35 countries, served almost 8,000 outstanding tech projects and given a strong boost to the cross-border capital cooperation between China and countries along the Belt and Road route. Since its inception, the Shenzhen-Hong Kong Stock Connect has run stably and seen steady growth in turnover. Up to now, the accumulative turnover has reached CNY4.67 trillion, which marks that this trading link plays an increasingly important role in the two-way opening-up of China's capital markets.
To construct a global hub of technological innovation is a major task in the Greater Bay Area development plan while to build a world leading center of innovative capital formation is the core goal of SZSE. The two are closely related and coincide with each other. It is both a duty and an opportunity for SZSE to propel the construction of the global technological innovation hub. SZSE will adhere to President Xi's Thought on Socialism with Chinese Characteristics for a New Era and earnestly implement the strategic deployment of the CPC Central Committee and the State Council. Under the leadership of CSRC, SZSE will work closely with the local governments of Shenzhen and in the Greater Bay Area and leverage the strong development momentum of the Greater Bay Area to deepen reform and opening-up, enhance our ability to serve technological innovation, improve basic systems, enrich product systems and boost cross-border financial service innovation. We will offer full support for the construction of the Greater Bay Area and devote ourselves to creating an international first-class bay area and a world-class city cluster.