The 6th Meeting on Furthering the Integration of High-tech Industry and Financial Capital in (Western) China was co-hosted by the Central Committee of China National Democratic Construction Association, the Ministry of Science and Technology (“MOST”), People's Government of Sichuan Province, and Shenzhen Stock Exchange (“SZSE”) on April 27 and 28, with the theme of “Sharing the New Era, and Promoting Development”. It was the sixth time that SZSE participated in the meeting as a co-host on furthering technology-Finance integration.
“One focus of SZSE’s work in the long run is to serve the regional coordinated development strategy,” expressed Wu Lijun, Secretary of Party Committee and Chairman of the Board of SZSE, “and SZSE is proactive in extending its support for the economic and social development of Western regions, including Sichuan Province, by making full use of the multi-layer capital market.”
China is accelerating its transition of economic development mode at a time of new technological and industrial revolution. International division of labor is being reshaped. Therefore, implementing new development philosophy and the innovation-driven development strategy, and creating a modern economic system are of great significance to claiming a commanding height during the new technological revolution. Capital market catalyzes technological innovation. Its role, same with that of finance and the duties and missions of SZSE, is to provide financing means that are more effective, convenient and cost-effective to facilitate the quality development of the real economy.
With an aim to serve the national strategies and the development of the real economy, SZSE makes great efforts to support tech firms, SMEs and private businesses and is proactive in serving new technology, new industries, new industrial formats and new business modes, trying to build a word-leading innovation capital formation center and a viable system to serve innovative enterprises. The multi-layer capital market that consists of the main board, SME board, and ChiNext board caters to financing needs of different enterprises at different stages of development. As of now, high tech firms and growing innovative business have become the major force in the Shenzhen market, with tech firms accounting for over 70 percent of the listed companies and strategic emerging companies over 40 percent, making SZSE an incubator and a place of innovative companies in China. Meanwhile, SZSE also launched the “High-tech SME Growth Roadmap 2.0” project together with MOST to create an investing-financing information platform for innovative tech firms nationally, with over 4400 institutional investors and professional services organizations and more than 10,000 professional investors involved currently.
SZSE has been collaborating closely with Sichuan province, and is currently working on a special plan “the Tianfu Plan” with the features of Sichuan’s development in the new era taken into account to build a headquarters-Western foundation service platform to facilitate the development of innovative companies and introduce the fresh water of the capital market to further the economic development of Sichuan. Next, SZSE shall continue to work with relevant parties and draw on their strengths to make concerted efforts, improve the technology-finance ecosystem, and facilitate the balanced development of the real economy, innovative technology and modern finance in Western China.
