On November 18, the founding meeting of Innovation Development Committee under the Board of Shenzhen Stock Exchange (SZSE) was held. At the meeting, the founding background was briefed, the working rules were approved, and the existing situation, problems and thoughts of work on product innovation were especially discussed. Supervisory departments and industry associations were also invited to introduce the innovation and development in the market and industries.
The founding of the Innovation Development Committee is a significant move by SZSE to implement the “New National Nine Positive Stimuli” and to exert the connecting function of capital market in innovation and development. It creates an important communication platform the for the Exchange and market players to jointly participate, design and promote market innovation, which is conducive to further perfect the governance structure of the Board of SZSE, enhance scientific decision-making and prevent conflicts of interests, and strengthen the pertinence, effectiveness and transparency of innovation work.
It is known that the Committee is composed of principals and experts from industry associations, members of the exchange, fund companies, venture capital and private placement funds, and foreign institutions. It’s responsible for study and argument on major innovation with regards to products, business, trading system reform that might have great impact on the market, and significant innovation on trading platform that involves industrial development, and thus providing advice and suggestions to the board of directors.
Excepted from the Innovation Development Committee, the Board of SZSE founded the Strategic Planning Committee at the end of last month and will further establish a self-regulatory committee. All together with the previous founded committees of SME Cultivation and Development, Appeal and Review, and Risk Management, there will be 6 special committees under the Board of SZSE.