Recently, in accordance with the overall work arrangements for launching the Sci-tech Innovation Board and piloting the registration-based IPO system, with the guidance and support of the China Securities Regulatory Commission (CSRC), the Shanghai Stock Exchange (SSE) has accelerated the establishment of the Stock Listing Committee (the “Listing Committee” for short), the Sci-tech Innovation Advisory Committee (the “Advisory Committee” for short), and the Public Offering Self-discipline Committee (the “Self-discipline Committee” for short) for the Sci-tech Innovation Board. In order to ensure the openness, fairness and justice in the establishment of the Listing Committee, the Advisory Committee and the Self-discipline Committee, and give full play to the important role of the three committees in launching the Sci-tech Innovation Board and piloting the registration-based IPO system, the SSE has determined the lists of the members of the first Listing Committee, the first Advisory Committee and the first Self-discipline Committee after making the work plans and completing relevant procedures on the basis of related systems and rules, and the lists have been made public today.
The first Listing Committee consists of 38 members from accounting firms, law firms, universities, market institutions, and the relevant institutions in the CSRC system, who mainly work as the committee members on a part-time basis. The members are from a wide range of fields with adequate representativeness and qualifications for performing their duties. The members of the Listing Committee will work for the committee in accordance with rules and procedures, and conduct review and supervision on the issuance and listing on the exchange, so as to make the review more professional, authoritative and credible.
The first Advisory Committee includes 48 members from high-tech enterprises, investment institutions, research institutes, etc. The members are from a wide range of fields and are the experts in the fields related to the sci-tech innovation with adequate representativeness. All the members work part-time and perform their duties as experts. The members of the Advisory Committee will work for the committee in accordance with the rules and procedures, provide opinions on the development of the Sci-tech Innovation Board and whether the innovative technologies or industrial applications are advanced or cutting-edge, and offer professional support to the review.
The first Self-discipline Committee is composed of 35 members, including 34 market institution members and one SSE member. Among the market institution members, 17 of them are from market institutions on the buying side and 17 on the selling side in the stock market, and all of them are the main participants in the primary market. The Self-discipline Committee has been designed mainly to implement the requirement for “building a market-based issuance and underwriting mechanism for the stocks on the Sci-tech Innovation Board” proposed in the “Implementation Opinions on Launching the Sci-tech Innovation Board and Piloting the Registration-based IPO System on the Shanghai Stock Exchange” and ensure the smooth and orderly progress in issuing and underwriting the stocks on the Sci-tech Innovation Board, so as to give play to the role of self-discipline in the industry and guide the formation of favorable and stable expectations. After extensively soliciting opinions in the industry, taking applications from market institutions, and comprehensively assessing the applicants’ influence in the industry, their market reputation, the professional performance and other factors, a tentative list of market institution members of the first Self-Discipline Committee was formed. With the voting and approval of the board of governors of the SSE, the final list of the members of the first Self-Discipline Committee was determined. Recently, the first Self-disciplined Committee held its first working meeting, where one chairperson and four vice chairpersons were elected, and the working rules of the committee were discussed and adopted. The Self-Discipline Committee will perform its duties by holding work meetings, providing advisory opinions on the formulation of the policies for issuing stocks on the Sci-tech Innovation Board, and making industry initiatives and suggestions on issuing and underwriting stocks and other issues.
Going forward, the SSE will step up the disciplinary requirements for the members of duty performance, standardize the manners in which the members fulfill their responsibilities, and ensure the regulated and efficient operation of the Listing Committee, the Advisory Committee and the Self-discipline Committee so as to facilitate the launch of the Sci-tech Innovation Board and the pilot registration-based IPO system.
Announcement on Appointing Members of the First Stock Listing Committee for the Sci-tech Innovation Board of Shanghai Stock Exchange
Announcement on Appointing Members of the First Sci-tech Innovation Advisory Committee of Shanghai Stock Exchange
Announcement on the List of the Members of the First Stock Public Offering Self-discipline Committee for the Sci-tech Innovation Board of the Shanghai Stock Exchange
Notice on Issuing the “Working Rules for the Stock Public Offering Self-discipline Committee for the Sci-tech Innovation Board of the Shanghai Stock Exchange”
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Shanghai Stock Exchange Appoints Members Of The 1st Stock Listing Committee, Sci-Tech Innovation Advisory Committee, Public Offering Self-Discipline Committee For Sci-Tech Innovation Board
Date 12/04/2019