.jpg)
Recently, a delegation from Hunan Province visited the Shanghai Stock Exchange (SSE). Li Dianxun, Member of the Standing Committee of the CPC Hunan Committee and Executive Vice Governor of the People's Government of Hunan Province, had a cordial meeting and exchange with Qiu Yong, Party Secretary and Chairman of SSE. They were accompanied by Dong Guoqun, member of the Party Committee and Executive Vice President of SSE, as well as officials from the People's Government of Hunan Province, the Hunan Local Financial Supervision and Administration, the Department of Commerce of Hunan Province, the CSRC Hunan Office and the relevant departments of SSE.
Li Dianxun expressed his gratitude to the SSE for its continuous support and promotion of the development of Hunan's capital market. He pointed out that by setting up a capital market service base and a STAR Market incubation center in Hunan, sending staff to work on secondment in the province, and arranging heads and experts of various business sectors of the exchange to visit the province, the SSE has actively contributed to the development of Hunan's capital market. So far, 44 companies from Hunan have listed on the SSE, with a total market cap of about 570 billion yuan and a combined IPO financing of 49.4 billion yuan. The SSE listed companies from Hunan reported a combined refinancing of 122.2 billion yuan in 69 transactions. Various entities issued 1,162 credit bonds on the SSE, raising 2.04 trillion yuan. Hunan looks forward to greater support and assistance from the SSE in the areas of listing, listed company development, bond financing, etc., thus further promoting the reform of the province's economic system, the innovation of its enterprise management mechanism and the high-quality development of its capital market.
Qiu Yong, Chairman of SSE, appreciated Hunan's trust and support for the exchange. He said that the SSE has been committed to implementing the task of deepening reform across the board. It will continue to adhere to the "three principles" of the registration scheme reform, earnestly assume its responsibility of reform implementation, actively integrate into the new development strategy, and conscientiously conduct all tasks of reform, development and stability. He pointed out that there is solid foundation for cooperation, smooth communication channels and sound cooperation mechanisms between the SSE and Hunan. In recent years, the two sides have made significant progress in promoting the development of the capital market, and have broader cooperation space in the future. The SSE will continue to deepen its communication and cooperation with Hunan, support Hunan in areas including IPO listing, the high-quality development of listed companies, bond financing and risk prevention and control, and strive to serve the high-quality development of the regional economy.
At the recent 2022 Hunan-Yangtze River Delta Economic and Trade Cooperation Promotion Week, the People's Government of Hunan Province signed a memorandum of strategic cooperation with SSE. The signing of the memorandum is one of the important measures to implement the spirit of the 20th CPC National Congress, vigorously implement the strategy of "three highlands and four new missions" in accordance with the guidance and blueprint set by General Secretary Xi Jinping for Hunan, and accelerate the "Golden Hibiscus" improvement initiative. Next, the SSE and Hunan will establish a practical, feasible and verifiable cooperation mechanism in such aspects as work coordination and information sharing under the framework of the strategic cooperation memorandum. There will be comprehensive strategic cooperation in six areas, including strengthening the cultivation of the pipeline for listing, further improving the quality of listed companies, promoting bond financing, and financial talent exchange. This is expected to help Hunan accelerate the domestic and overseas listing of enterprises, increase the proportion of direct financing, reduce financing costs, help enterprises improve their strength, quality and efficiency using the capital market, move resolutely along the road of financial development with Chinese characteristics, and promote the high-quality development of the capital market.
