Shenzhen Stock Exchange (SZSE) held the 2021 General Assembly from 24 to 28 May 2021. The General Assembly was convened by the 5th Board of Directors in an off-site form. Representatives from 119 members attended the General Assembly, voted online on relevant topics, and put forward suggestions on the development of the SZSE market.
The General Assembly strictly implemented the Measures on Administration of Securities Exchanges and the Charter of Shenzhen Stock Exchange, and conscientiously carried out the requirements on regular pandemic prevention and control. It was pragmatical and efficient, with sufficient communication and meticulous preparations. While further strengthening and refining the regular holding mechanism of the General Assembly, it ensured members’ rights to know, participate and supervise. The General Assembly was of great significance to improving the exchange’s governance system, urging members to exercise their legal rights, forming a development synergy, and better promoting the reform and development of SZSE. Members attached great importance to the General Assembly. They carefully deliberated on various topics, prudently exercised their voting rights, seriously conducted the witnessing process of vote counting, and actively put forward suggestions, ensuring a high-standard meeting.
The General Assembly reviewed and adopted the Report on the Work of the Board of Directors of SZSE. The General Assembly fully affirmed the work that the 5th Board of Directors has done since its establishment, saying that the Board of Directors fully understood the exchange’s political, national and public institution attributes, adhered to and strengthened Party leadership, and planed the development of SZSE as a whole by steering the big picture, putting forward approaches and making decisions; the Board of Directors made remarkable progress in promoting reform and innovation, market services, frontline regulation, risk control, secure operation, etc., and promoted SZSE to achieve new development and cultivate new growth drivers. The General Assembly stated that the Board of Directors should continue to follow Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era and be keenly aware of the need to maintain political integrity, think in big-picture terms, follow the leadership core, and keep in alignment with the central Party leadership. It should keep confidence in the path, theory, system, and culture of socialism with Chinese characteristics, and uphold General Secretary Xi Jinping’s core position on the Party Central Committee and in the Party as a whole and uphold the Party Central Committee’s authority and its centralized and unified leadership. It should also fulfill duties, undertake missions and work with relevant parties; adhere to the general principle of pursuing progress while ensuring stability, seize the major opportunities of the deepening of the reform of the capital market in all respects and the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Pilot Demonstration Area of Socialism with Chinese Characteristics. The Board of Directors should give better play to its important role in refining the governance structure, planning reform and development and creating a synergy among members. It should fully support SZSE’s building of a quality innovation capital center and world-class exchange, and make contributions to fostering a new development pattern and facilitating high-quality development.
The General Assembly reviewed and adopted the Report on the Work of President & CEO of SZSE. The General Assembly fully affirmed the work of President & CEO of SZSE, saying that President & CEO of SZSE seriously put in place the resolutions of the General Assembly, earnestly fulfilled operation management responsibilities, and put forth effort to tackle key problems in the reform; President & CEO of SZSE contributed to new breakthroughs in the development of the SZSE market, new progress in the development of the market, new improvement in the efficiency of regulation, new achievements in the management and operation of SZSE, and further enhancement of the capability of serving high-quality development. The General Assembly required the management team of SZSE to align thoughts and actions with the guiding principles of the Fifth Plenary Session of the 19th CPC Central Committee and the Central Economic Working Conference; continue to strive forward and shoulder responsibilities; apply the system thinking, vigorously carry out reform and innovation, and resolutely take on the responsibility as a trailblazer in the capital market. The management should follow the decisions and plans of the CPC SZSE Committee and the Board of Directors, stick to the positioning of the ChiNext Board, consolidate the achievements of the ChiNext Board reform, and maintain high-quality operation of the registration-based IPO system of the ChiNext Board. In addition, it should explore the listing system for enterprises that haven’t made a profit yet, create conditions for the steady implementation of the registration-based IPO system through the whole market, and give full play to the role of the capital market as a hub to better serve high-quality economic development.
The General Assembly reviewed and adopted the Report on the Work of the Board of Supervisors of SZSE. The General Assembly fully affirmed the work that the 3rd Board of Supervisors has done since its establishment, saying that the Board of Supervisors fulfilled supervisory responsibilities, made innovations in supervisory methods and improved the efficiency of supervision, and played a positive role in bettering the governance system, guaranteeing reform and development, forestalling and defusing risks and raising the level of standard operation, and effectively maintained the stable and healthy development of SZSE. The General Assembly required the Board of Supervisors to further improve political stance, earnestly fulfill responsibilities, actively develop a more complete and efficient working mechanism, focus on enhancing supervisory capability, facilitate reform, innovation and development through supervision, and fully support standard and orderly development of SZSE.
The General Assembly reviewed and adopted the 2020 Final Accounts and 2021 Financial Budget of SZSE. The General Assembly believed that the reports objectively reflected SZSE’s financial position and operating results in 2020, SZSE reasonably estimated the financial revenues and expenditures for 2021 based on market trends and business development needs, and profit distribution was scientific and standard and the preparation of the budget was prudent. The General Assembly required SZSE to report the Final Accounts and Financial Budget to the CSRC according to regulations and to continue to enhance financial management.
The General Assembly pointed out that it’s of great significance to do a good job in tasks concerning the capital market in 2021 as 2021 is the first year of the 14th Five-Year Plan period, the start of a new journey to build China into a modern socialist country in all respects, and the 100th anniversary of the founding of the CPC. SZSE and all members should, guided by Xi Jinping’s Thought on Socialism with Chinese Characteristics for a New Era, integrate their own development into national economic and social development, correctly understand their coordinates in the great journey, and take on the historical mission of seeking high-quality development through innovation. SZSE should continue to unite, support and serve members, and earnestly practice the principles of “system building, non-intervention, and zero tolerance” and the requirements of “revering the market, revering the rule of law, holding high professionalism, staying alert to risks, and obtaining support from various parties”. SZSE should understand the new development stage correctly, fully apply the new development philosophy, and actively foster the new development pattern. Centering the fundamental goal of building a “capital market that is standard, transparent, open, dynamic and resilient”, SZSE should create a market synergy, actively serve national strategies and the development of the real economy, and steadily deepen the reform of the capital market in all aspects and the pilot project of comprehensive reform of the Pilot Demonstration Area of Socialism with Chinese Characteristics. SZSE should work with members to build a quality innovation capital center and world-class exchange, promote high-quality development of the capital market, and assist in making a good start of the new development pattern, thus celebrating the 100th anniversary of the founding of the CPC with excellent achievements.
