.jpg)
The Year of 2021 marks a significant milestone in the history of the Party and the country. The CPC Central Committee with Comrade Xi Jinping at the core, guiding the direction, calmly responding to profound changes and COVID-19 pandemic unseen in a century, and leading the whole Party and the entire nation in solidarity, completed the arduous task of reform and development. The goals of eradicating extreme poverty and building a moderately prosperous society in all respects were accomplished as scheduled. New strides were taken in building a new development paradigm, and fresh progress was made in high-quality development. A sound beginning was realized for the 14th Five-year Plan and a new journey was embarked upon to build a modern socialist country in all respects and to achieve the Second Centenary Goal.
In 2021, we worked hard in a down-to-earth manner. Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, the Shenzhen Stock Exchange (SZSE) resolutely implemented the decisions and arrangements of the CPC Central Committee and the State Council. Under the strong leadership of the Party Committee of China Securities Regulatory Commission (CSRC), SZSE, keeping in mind both domestic and international imperatives and the country's most fundamental interests, took a clear-cut political stand and practiced the policy of “institution-building, non-intervention and zero tolerance”, and the regulatory philosophy of “Four Awes” (stand in awe of the market, rule of law, professionalism and risk-oriented thinking) and “One Synergy” (the capital market’s development calls for efforts made by all sides). We intensified reform, promoted development, prevented risks, ensured stable operation, overcame obstacles and difficulties, broke new grounds, and conducted innovative practices, achieving positive results in all fields.
In 2021, we warmly celebrated the centenary of the CPC. SZSE earnestly studied and carried out the spirit of the important speeches by President Xi Jinping and the tenets of the Sixth Plenary Session of the 19th CPC Central Committee and the Central Economic Work Conference. SZSE carried out learning and education on Party’s history, actively assisted in the disciplinary inspection by the CPC Central Committee, and launched an innovative “red securities exhibition” to draw wisdom and strength from Party's centennial history of endeavors, transforming the “Two Establishments” (the establishment of Comrade Xi Jinping's core position on the CPC Central Committee and in the Party as a whole and the defining of the guiding role of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era) into ideological, political and action-guiding consciousness of the “Two Upholds” (uphold Comrade Xi Jinping’s core position on the Party Central Committee and in the Party as a whole, and uphold the Central Committee’s authority and its centralized, unified leadership).
In 2021, we made in-depth efforts to comprehensively deepen the reform of the capital market and ensured high-quality operation of the ChiNext Market registration-based IPO system. More than 90 percent of new listings under the registration-based IPO system were high-tech enterprises and the total number of ChiNext-listed companies exceeded 1000. In addition, SZSE successfully merged the SZSE Main Board with SME Board, resuming IPO function of the SZSE Main Board after a hiatus of 21 years. SZSE also launched a pilot scheme of public infrastructure REITs, an innovation of infrastructure investment and financing mechanisms. Meanwhile, we steadily promoted the two-way opening-up at higher level, held the 60th WFE General Assembly & Annual Meeting, enriched eligible securities for the Shenzhen-Hong Kong Stock Connect, launched SZSE-JPX ETF Connectivity products, and furthered reform and opening-up.
In 2021, we actively aligned ourselves with national strategies and gave full play to SZSE’s function of direct financing. Capital raised through equities and bonds listed on SZSE totaled RMB 2.6 trillion (USD 409 billion). Prioritizing self-reliance in science and technology, SZSE welcomed 187 and 30 newly-listed enterprises from high-tech sectors and strategic emerging industries respectively, launched technological innovation bonds, and developed intellectual property securitization products. Focusing on the national strategic goals of carbon peaking and carbon neutrality, SZSE launched innovative products such as carbon neutrality special bonds, and released the first domestic green finance index. SZSE implemented the requirements of cutting fees and taxes, and proactively reduced fees of listed companies in regions affected by the pandemic and flood. SZSE also promoted the effective connection between poverty alleviation and rural revitalization, and consolidated the poverty alleviation achievements targeting Wushan County of Gansu Province as well as Maigaiti County of Xinjiang Uygar Autonomous Region. SZSE actively participated in the development of Guangdong-Hong Kong-Macao Greater Bay Area, supported Shenzhen in building a pilot demonstration area of socialism with Chinese characteristics, and pushed forward to implement the tasks on the list specifying the authorized matters of comprehensive pilot reforms in Shenzhen, enhancing its ability to serve the real economy.
In 2021, we helped to win the tough battle to defuse major financial risks, improved the quality and efficiency of front-line supervision, cracked down on violations of laws and regulations, and protected legitimate rights and interests of investors. SZSE coordinated with all parties involved to properly handle risks in key areas, orderly promoted listed companies to clear up arrears and release guarantees, and stepped up the mitigation of bond repayment risks in a market-oriented manner. To ensure safe operation of the market, SZSE continued to strengthen pandemic prevention and control and enhance its IT operation and maintenance.
All these cannot be accomplished without the joint efforts of all relevant parties in the market. On this occasion, we would like to express our heartfelt gratitude to all the market participants, relevant organizations and people from all walks of life for the long-term attention and support they have given to the reform and development of SZSE.
Only by keeping a steady pace can we ensure sustainable development, and only by making enduring progress can we gain outstanding achievements. The 20th CPC National Congress will be held in 2022, which is a major event in the political life of the CPC and the nation. Therefore, it is of great significance for us to do a good job as a stock exchange and maintain the smooth operation of the capital market. Under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, SZSE will earnestly carry out the tenets of the Sixth Plenary Session of the 19th CPC Central Committee and the Central Economic Work Conference, consolidate and expand the achievements in the campaign on studying the Party's history and carry forward the great founding spirit of the Party. Under the leadership of the Party Committee of CSRC, SZSE will uphold the general principle of pursuing progress while ensuring stability, fully and faithfully implement the new development philosophy, serve the real economy, prevent and defuse risks, deepen market reform, implement rectification tasks in response to the central inspection, and fulfill the stock exchange’s responsibility in a down-to-earth manner, so as to better serve the national’s overall reform, development and stability.
We will uphold the Party's overall leadership and persevere in the correct political orientation. SZSE will thoroughly study and implement the spirit of the important speeches by President Xi Jinping and gain a deep understanding of the decisive significance of the “Two Establishments”, strengthen “Four Consciousnesses” (consciousness of the need to maintain political integrity, consciousness in big-picture terms, consciousness in following the leadership core, and consciousness in keeping in alignment with the central Party leadership), enhance “Four Matters of Confidence” (stay confident in the path, theory, system, and culture of socialism with Chinese characteristics), and ensure “Two Upholds”. SZSE will give top priority to the Party's political construction, firmly grasp the political and national attributes of the stock exchange, and constantly improve the political judgment, thinking, and implementation. SZSE will unswervingly uphold the Party's leadership throughout the whole governance process of the exchange, maintain systems thinking, coordinate and plan in a scientific way, and strive to achieve the unity of political, social and market effect.
We will ensure stability as the top priority and maintain the smooth operation of the market. SZSE will solidify its sense of safeguarding the bottom line, increase the vigilance against potential dangers and highlight the timing, extent and efficiency of its work. SZSE will support and guide the sound development of capital, strengthen supervision on financing and M&A activities in specific and sensitive areas, and prevent runaway expansion of capital. SZSE will strengthen analysis and assessment on macro situations and key risks, and improve the capability for risk monitoring, alarm and response. SZSE will take prudent steps to prevent and defuse risks in key areas, strengthen operation and maintenance support of IT system, and ensure prevention of systemic risks.
We will adhere to reform-led strategy and galvanize the vitality of market participants. SZSE will promote the improvement of fundamental system, continuously enhance market functions, and solve problems arising from development through reform. SZSE will thoroughly implement the three principles of the registration-based IPO system reform (respect for the essence of a registration-based system, alignment with international best practices, and suitability with the characteristics and development stage of China’s market), consolidate the achievements of the ChiNext Market registration-based IPO system reform, and make preparations to fully implement the registration-based IPO system. Guided by the registration-based IPO system reform, SZSE will coordinate and advance key tasks including improving the quality of listed companies, promoting high-level two-way opening-up, and enhancing its capability of technology-enabled supervision, so as to propel development through reform and gain momentum through innovation.
We will stick to service-oriented philosophy and provide firm support for the real economy. SZSE will stay committed to its main mission and responsibilities, provide services based on national strategies, and guide the allocation of resources to key areas supported by the country. SZSE will increase support for technology and innovation, green and low-carbon industry, manufacturing industry and SMEs, and serve for the high-quality development of the real economy. SZSE will improve the market cultivation system, lay out the service chain focusing on industrial chain and innovation chain, and improve the pertinence and accuracy of its services. We will also launch more innovative products directly related to the real economy, in order to better meet the people's wealth management demand, and enhance coordinated development of investment and financing.
From shore to shore it is wide at high tide, and before fair wind a sail is bristling. In the new year, SZSE will consciously align its stance with the overall situation of the Party and the country, work diligently and forge ahead, and join efforts with all parties to build a quality innovation capital center and a world-class exchange, create a rule-based, transparent, open, dynamic and resilient capital market, serve the new development paradigm and high-quality development, take an entirely new look and make new accomplishments on the new journey, and pay tribute to the opening of 20th National Congress of the CPC with outstanding accomplishments.
