On August 2, 2018, the fourth council of SZSE held its fifth meeting. At the meeting, the work of SZSE in the first half of 2018 and the work plan for the second half of the year were announced and the followings were reviewed and approved: the measures and supporting rules on implementing the mandatory delisting mechanism for the major violation of law by listed companies, the poverty alleviation work plan for 2018, and other matters. Thorough discussions about the recent market operation and risk prevention and control were also conducted at the meeting.
At the meeting, the work SZSE has done was acknowledged. SZSE has thoroughly implemented Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and the spirit of the 19th CPC National Congress in the first half of 2018. It has fully practiced the decision and arrangements of the CPC Central Committee and the CSRC Party Committee and conscientiously performed front-line supervision duties. It is persisted in party building and risk prevention and has promoted development and strict management. It has put the prevention and alleviation of market systemic risks and the maintenance of stable market operation in a prominent position. It has fully implemented the requirements of the Measures on Administration of Securities Exchanges and focused on consolidating the foundation of the first-line supervision system. It has zealously promoted active and preventive supervision and paid attention to guide the members and market institutions to play their roles. It has kept expanding the product system coverage and the market cultivation service network. And it has constantly boosted the internationalization strategy layout in an orderly manner and achieved greatly in various market construction tasks. Furthermore, the following requirements on SZSE were put forward at the meeting. SZSE should take Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as a guide to improve its political consciousness, resolutely practice "Two Maintenance", strengthen "Four Consciousness", and fortify "Four Self-confidence". It should unify thoughts and actions to the central government's judgment on the current economic situation, seize opportunities, face challenges and uphold the general principle of seeking progress while maintaining stability. It should implement the new development concept and unswervingly promote the three main tasks of financial work in accordance with the requirements of quality development. It should adhere to the combination of serving the real economy and preventing and defusing risks, stick to the principle of comprehensive and strict law-based supervision and persist in reform, innovation and development. It should actively promote key reform tasks such as ChiNext reform and ETF option pilots. It should strive to achieve new breakthroughs in opening up to the world and work hard to consolidate system foundation and weak institutional links. And it should firmly hold the bottom line of zero systemic risks and keep sparing no efforts to build a world-leading center for innovative capital formation and a world-class stock exchange.
At the meeting, it was stressed that the delisting system is an important basic system of the capital market and is important to improve capital market function, optimize market resources allocation and promote the formation of a market mechanism for survival of the fittest. SZSE will fully implement the Securities Law and the CSRC's Decision on Amending the Opinions on Reforming, Improving and Strictly Implementing the Delisting System for Listed Companies to earnestly shoulder the entity responsibilities for delisting, keep improving and strictly enforcing the delisting system for listed companies, give full play to the positive guidance of delisting system and promote the long-term stable and healthy development of capital market.
It was pointed out at the meeting that the implementation of targeted assistance to Wushan County, Gansu and Maigaiti County, Xinjiang was an important measure for SZSE to implement the 19th CPC National Congress' major strategic plans on poverty alleviation, rural revitalization and other key strategic measures, and to make a decisive victory in building a moderately prosperous society in all respects. SZSE should give full play to the advantages of itself and its members and guide listed companies and market institutions to engage in the poverty alleviation causes so as to keep contributing to the poverty alleviation in such aspects as industries, people's livelihood and education and help the two counties complete the task of poverty alleviation on time.
It's addressed at the meeting that currently the economy runs smoothly and steadily on the whole but is also faced with new problems and challenges and that there is a long and tough road to go in the aspect of market risk prevention and control. At the meeting, what SZSE has done since 2018 for risk screening, prevention and control was well acknowledged. SZSE is asked to keep making the tasks of consolidating risk control and maintaining secure market operations as its priorities, to further reinforce the efforts on risk screening assessment, monitoring handling and market expectation management and to fully make use of the market advantage of broad membership, information advantage and professional edge. In such a way, SZSE can better keep motivating all members to safeguard the sound and robust running of capital market and resolutely win over the tough battle of preventing and resolving material risks.
