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Shenzhen Stock Exchange (SZSE) has held study sessions to grasp the spirit of the Fifth Plenum of the 18th CPC Committee, speeches delivered by President Xi and 2016 National Conference on Securities and Futures Regulation. Through the study, all participants agree that the CPC Central Committee and State Council’s call for strengthening financial service to the real economy and promoting supply-side structural reform has laid a solid foundation for long-term and stable development of capital market. As an important platform for capital market to support the real economy and serve national strategies, SZSE should play a greater role in facilitating economic transition and upgrading in line with the nation’s opening-up strategy. In 2016, SZSE will place emphasis on serving supply-side structural reform and “One Belt One Road” initiative, strengthening market institution and human resources, preventing and controlling risks. We will focus on the following five key areas in 2016.
First, we will comprehensively serve the supply-side structural reform. SZSE will implement concepts of “innovative, coordinated, green, open and sharing” development, promote reform and innovation in capital market, support structural reforms, intensify momentum of development and comprehensively improve the ability to serve the real economy. We will actively implement tasks required by registration-based system reform in stock issuance, expand the Main Board and the SME Board, deepen reforms in the ChiNext Market, diversify bond and asset-backed securities product lines, improve financing function to facilitate incremental development. We will improve market-based M&A system and optimize existing structure. We will strengthen market service and cultivation and improve capital market’s service for key areas, regions and enterprises.
Second, we will comprehensive serve the “One Belt One Road” initiative. SZSE will leverage technical, professional and geographical advantages to explore differentiated development paths of opening up. We will launch Shenzhen-Hong Kong Stock Connect, promote recognized Hong Kong funds to list and trade on SZSE LOF platform and recognized ETFs to cross-list on Shenzhen Stock Exchange and Hong Kong Exchange. We will faciliate planning of China (Guangdong) Free Trade Zone and develop Qianhai cross-border financial product trading platform. We will research on promoting strategic cooperation with countries and regions along the Belt and Road in financial infrastructure and services. We will develop characteristic indices and promote cross-listing of cross-border fund products. We will develop offshore information disclosure and investment service platforms and foster international innovative enterprise community.
Third, we will focus on solidifying the foundation of market operation system. SZSE will develop solid research and evaluation on various reform and work plans, improve fundamental institution of the Main Board and the SME Board, implement top-layer design of the ChiNext Market reforms. We will promote reform in trading system and improve intrinsic stabilization mechanism. We will optimize front-line supervision system, optimize guidelines on information disclosure by sectors and strictly implement delisting system. We will focus on improving the regulation on high-risk companies, major shareholders’ sell-off and companies with delisting risk. We will improve investor eligibility management system and strengthen investor education and protection.
Fourth, we will focus on consolidating the foundation of professional talents. SZSE will implement requirements of Strict Party Governance, reinforce the Party’s construction and implement inspection rectification. We will actively explore favorable systems and mechanisms for human resource development and accelerate the formation of a highly qualified and well-structured professional team. We will optimize personnel training mechanism and create a favorable development environment for growth and success. We will improve personnel deployment mechanism and enhance staff vitality. We will comprehensively improve personnel’s ability to adapt to new circumstances and face up to new challenges at various levels and through diverse channels, offering a platform of growth to motivate personnel’s enthusiasm, commitment and creativity.
Fifth, we will strictly defend the bottom line in risk prevention. With deep-rooted bottom-line thinking, SZSE will secure risk management defense, implement the prevention and control of market and operational risk. We will strengthen our ability to assess, alert, detect and dispose of cross-product, cross-market and cross-border risk. We will ascertain stock-taking for regulation, optimize data monitoring, strength risk control of bond, structured funds and other products and optimize product and business innovation risk management. We will improve our IT system’s level of operation and maintenance, effectively guarantee safe and sound operation of core systems. We will strengthen governance and management framework, improve checks of power, and strictly prevent risks against clean acts.
SZSE Party committee emphatically stated that serious learning and implementing of guidelines and policies of the CPC Central Committee and State Council and strategic missions laid out by National Conference on Securities and Futures Regulation are a fundamental task for SZSE to continue to deepen its work. All staff shall further strengthen confidence, enhance the sense of mission and responsibility, focus strength to overcome difficulties, promote reform, innovation, opening and development of multi-tiered capital market, exert full effort to serve the national development strategies in a broader scope and at a higher level.
