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On December 24, the CPC SZSE Committee organized a study meeting for cadres at the middle and above levels to further study and implement the spirit of the important speeches delivered by General Secretary Xi Jinping at the celebration gathering of the 40th anniversary of reform and opening up and the Central Economic Work Conference, so as to make arrangements accordingly for the whole SZSE. Yu Guogang, a reform pioneer winner and SZSE's main founder, was invited to share the history and experience of SZSE's establishment. The CSRC congratulatory letter to Yu was read. The meeting is designed to call on our staff to vigorously carry forward Yu and other senior capital market builders' reform spirit of pioneering, innovating and daring to be ahead of others. Meanwhile, we should also learn from their time spirit of career devotion and selfless dedication to push forward the capital market reform and development in the new era by aiming higher and working harder.
The CPC SZSE Committee believes that General Secretary Xi's important speech at the 40th anniversary of the reform and opening up is profound and inspiring. It summed up the glorious course, great achievements, valuable experience and profound enlightenment of reform and opening up. Besides, it solemnly declared our confidence and determination to continue to promote reform and opening up in the new era and once again mobilized the entire Party and the people of all nationalities in carrying the reform and opening up further to its ultimate triumph. Therefore, it has pointed out the right direction for the Party and the country's cause and provided fundamental rules for the continuous deepening reform and expanding opening up of the capital market in the new era. SZSE is a product of reform and opening up. Without reform and opening up, there would be no SZSE. Yu, as a practitioner of the development of the capital market, was awarded by the CPC Central Committee and the State Council. It is not only Yu's personal honor, but also all SZSE people's. Above all, it is an honor of the capital market, since it fully reflects that the CPC Central Committee with Comrade Xi Jinping at its core attaches great importance to the reform and development of the capital market. Therefore, all SZSE staff are excited and encouraged and their confidence and determination to restart reform and opening up have been further strengthened. SZSE will firmly grasp the historical development trend, intensify reform and innovation, strengthen the construction of institutional mechanisms, and adhere to the fine style of daring to try and daring to be ahead of others, so as to promote to release the vitality and momentum of the capital market from a deeper level.
The CPC SZSE Committee also believes that General Secretary Xi's important speech at the Central Economic Work Conference comprehensively summarized the economic work in 2018, analyzed the current economic situation in depth and clarified the overall requirements, policy orientations and key tasks of economic work in 2019. It has made the important judgment that the country's development is still in and will be in an important period of strategic opportunity for development for a long time. Besides, it directs the overall situation, looks far ahead and aims high, which is of strong ideological, strategic and pertinent features, thus providing important rules for the current and future economic work. The Central Economic Work Conference emphasized that the capital market has an overall impact on financial operations. Hence, the necessity to deepen reforms to create a standardized, transparent, open, dynamic and resilient capital market, enhance the quality of listed companies, improve trading systems, and guide more long-term funds to enter the market. This has pointed out the direction for the reform, development, and long-term and steady growth of the capital market in the new era. All SZSE staff will ensure that their thoughts and actions are in line with the decision-making and deployments by the CPC Central Committee for the economic work and the capital market. We will focus on increasing the proportion of direct financing, serve national strategies such as the construction of the Guangdong-Hong Kong-Macao Great Bay Area, help state-owned enterprise reform, and support technological innovation enterprises, private enterprises and growth-oriented enterprises to use the capital market to become bigger and stronger, so as to continuously improve the capital market ability to serve the real economy.
The CPC SZSE Committee expressed that next year marks the 70th anniversary of the founding of new China and a year critical to fully build a moderately well-off society. Throughout SZSE, all staff will follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and spirit of the 19th CPC National Congress and earnestly practice the guiding principles in General Secretary Xi' speeches delivered at the 40th anniversary of reform and opening-up and the Central Economic Work Conference. With those efforts, SZSE will keep delivering sound performance in the three difficult tasks of major risk prevention, precision poverty alleviation, and pollution control, persevere in deepening reform and expanding opening-up, and boost the further improvement of market functions, better running of frontline supervision, more targeted services in cultivation and more standard operation in management. SZSE will spare no efforts in building a world leading innovation capital formation center and constructing a world-class securities exchange. Firstly, focusing on reform to propel development. We will step up the ChiNext reform to further optimize the fundamental systems of ChiNext such as share offering, listing, refinancing, and M&A restructuring for greater inclusiveness and coverage of the ChiNext market. Also, we will vigorously enlarge the issue scale of local treasury bonds to solidly promote the steady commissioning of ETF options. Secondly, focusing on services to drive opening-up. We will move to greater depth the construction of "localized" capital market service bases, reinforce the building of a match-making service platform for investing and financing and structure the innovative capital ecology of SZSE. We will put into play the demonstrative role of Shenzhen-Hong Kong Stock Connect to push forward the interconnection from a broader scope, higher level and greater depth. Besides, we will gather forces to build core indexes of the SZSE market to guide foreign institutions in allocating assets in our market and attract the settlement of more mid and long-term funds. Third, focusing on supervision to prevent risks. We will continue to intensify the monitoring over market operation to enhance our capabilities of risk pre-research, pre-judgement and pre-warning. We will strengthen the supervision of listed companies and strictly implement the delisting system to stress the quality improvement of listed companies. We will also perfect the trading system to further complement the weak links in our regulatory system. Fourth, focusing on party building to exercise stringent management. Taking the CPC politic building as a guide, we will constantly consolidate our "Four Consciousnesses", strengthen "Four Confidences" and resolutely practice "Two Safeguards". SZSE will keep beefing up the working style construction to further improve institutional constraint and build a loyal, clean and responsible quality team of carders, thus affording solid guarantee for the development of capital market reform.
