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On December 22, SZSE held the Learning Meeting of the Party Committee Center Group, at which SZSE earnestly studied and comprehended the guiding principles of the Central Economic Working Conference, and made plans for work concerning the implementation of the guiding principles based on the general requirements and key tasks of economic work next year and SZSE’s realities.
The meeting said that this year’s Central Economic Working Conference was an extremely important meeting held at the critical time when decisive achievements were made in securing a decisive victory in building a moderately prosperous society in all respects, the 13th Five-year Plan was successfully concluded and the 14th Five-year Plan is about to start. The meeting comprehensively summed up the achievements that were made in economic work this year, systematically explained the fundamental laws of doing a good job in economic work in the face of severe challenges, analyzed in depth the current economic situation, and clearly laid out the general requirements, policy orientation and key tasks of economic work next year. Pointing out the direction and providing guidance for economic work at present and for some time to come, the meeting is of great significance held against a special backdrop at a critical time node.
The meeting emphasized that this year was extremely unusual. Facing a severe, complex international situation and the formidable, burdensome task of maintaining stable domestic reform and development, especially the serious impact of the COVID-19 pandemic, under the strong leadership of the CPC Central Committee with Comrade Xi Jinping at its core, China has become the only major economy in the world to achieve a positive growth. Moreover, China has made decisive achievements in the battles against potential risks, poverty, and pollution, made significant progress in technological innovation, achieved important breakthroughs in reform and opening up, and improved living standards, delivering a report that its people finds satisfactory, has drawn worldwide attention and can be written into the annals of history. SZSE will understand deeply the outstanding achievements in this “extremely unusual year”, and continue to deepen the routine understanding of the “Five Fundamentals” (the authority of the CPC Central Committee is the fundamental power that can be relied on to motivate Chinese people of all ethnic groups to rise to challenges in times of crisis; people first is the fundamental premise of making correct decisions; institutional advantage is the fundamental guarantee to form mighty power to overcome difficulties; science-based decision-making and creative responses are the fundamental approaches to turn crises into opportunities; and self-reliance and self-improvement in science and technology are the fundamental support to promoting overall development). SZSE will enhance its consciousness of maintaining political commitment, thinking in terms of the general picture, following the core leadership of the CPC Central Committee, and acting in accordance with its requirements, and strengthen its confidence in the path, theory, system, and culture of socialism with Chinese characteristics. SZSE will uphold General Secretary Xi Jinping’s core position on the CPC Central Committee and in the Party as a whole and uphold the CPC Central Committee’s authority and its centralized and unified leadership, and effectively unify thinking and action in the decisions and plans of the CPC Central Committee on economic work.
The meeting pointed out that next year is critical to China’s modernization. The year of 2021, as the first year of the 14th Five-year Plan, the start of a new journey toward building China into a modern socialist country and the 100th anniversary of the founding of the Party, doing well in economic and financial work, is of great significance. SZSE will continue to follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and implement in depth the guiding principles of the Fifth Plenary Session of the 19th CPC Central Committee and the Central Economic Working Conference. We will adhere to the general principle of pursuing progress while ensuring stability, base ourselves in the new development phase, apply the new development philosophy, build a new development paradigm, and uphold a systematic concept. We will give full play to the role of the capital market as a hub, strive to build a quality innovation capital center and world-class exchange, support innovation-driven high-quality development, and assist in achieving a good start in the building of a new development paradigm.
The meeting stressed that the following work would be focused on next year. First, to adhere to innovation characteristics. SZSE will stick to the positioning of serving innovation and startups, place supporting technological innovation and achieving innovation-driven high-quality development in a more prominent position. We will establish a more inclusive, efficient innovation-supporting market system, a high-level innovation capital circulation mechanism, and a global asset allocation platform with the characteristics of an innovation market. We will refine the listing cultivation system for innovation-oriented enterprises, strengthen the role of enterprises as subjects of technological innovation, stimulate entrepreneurship, and improve the circulation efficiency of innovation capital, thus to provide better services to companies of innovation, creativity and originality, and traditional industries that are deeply integrated with new technologies, new industries, new business forms and new models. We will give play to the role of listed companies as models of innovation, serve national strategies, provide greater support to the development of quality companies in the fields of advanced manufacturing, new materials, information industry, ecological environmental protection, pharmaceuticals & healthcare, consumption upgrade, etc., drive coordinated innovation of the upstream and downstream of the industrial chain, and strengthen the independent controllability of the industrial chain and supply chain. Second, to advance in depth the reform and opening up. We will consolidate the achievements of the ChiNext Board reform, do all we can to maintain the high-quality operation of the registration-based IPO system of the ChiNext Board, deepen the reform of SZSE boards, and support more quality companies in using the capital market to become bigger and stronger. We will highlight the main line of “system building”. With the promotion of the registration-based IPO system and the improvement of the delisting mechanism as the levers, we will continue to improve basic systems, and guard the market access and market exit well, to help improve the quality of listed companies. We will promote coordinated development of investment and financing, diversify financial services, financial products and financial instruments, and improve wealth management and risk management functions. We will carry out institutional high-level two-way opening up in a systematic way. Third, to effectively maintain safe and stable market operation. We will put stability in the first place and maintain stable growth. We will guard against risks from the perspective of the overall economic and social development, plan innovation-driven development and prudent regulation as a whole, fully evaluate risk factors in reform, development and market operation, and improve risk monitoring, early warning and coping abilities. We will adopt the “zero tolerance” policy toward acts in violation of laws and regulations, and guard the line ensuring safe development of the market. Fourth, to adhere to and strengthen the Party’s leadership. We will further improve our political stance, and resolutely implement the major decisions and plans of the CPC Central Committee and the State Council. Under the leadership of the CPC Committee of China Securities Regulatory Commission (CSRC), we will continue to enforce full and strict discipline over the Party and SZSE, and take doing a good job of building, developing and regulating the exchange market as an embodiment of practicing the principles of upholding General Secretary Xi Jinping’s core position on the CPC Central Committee and in the Party as a whole and upholding the CPC Central Committee’s authority and its centralized and unified leadership.
This year marks the 30th anniversary of the founding of SZSE. Standing at a new starting point, SZSE will continue to adopt the spirit of daring to break through, the vigor of making innovations, and the working style of rolling up sleeves to get things done. We will vigorously advance reform and innovation, improve market functions in all aspects, strive to build a quality innovation capital center and world-class exchange, assist in making a good start for the 14th Five-year Plan, and pay a tribute to the 100th anniversary of the founding of the Party with excellent performance.
