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In March this year, the Shanghai Stock Exchange (SSE) launched a series of surveys to widely solicit opinions and suggestions on its service and how to develop the high-quality capital market, receiving more than 400 threads of feedback. Based on a comprehensive review, the SSE kicked off nine service initiatives, including simplifying business handling documents and processes, reducing and cancelling fees on market entities, launching multi-channel market consulting services such as “Handling All with One Number”, establishing a communication mechanism for the whole process of listing review for the STAR Market, setting up review and issuance channels specifically for industrial development bonds in poor areas, and extending the service hours and increasing the service items of the China Securities Museum.
After nearly six month’s implementation, progress has been made in the service initiatives respectively. First, in view of the relatively concentrated demands of market participants, the SSE has cancelled in batches the requirements for 17 business handling documents and communicated with applicant enterprises in more than 20 applications for listing on the STAR Market. Second, fulfilling social responsibilities in support of epidemic prevention and control, flood control and disaster relief, the SSE reduced and cancelled about 1.8 million yuan in fees for the listed companies in areas affected by the epidemic and disasters, and donated special disaster relief funds; besides, it cancelled the professional training fee and reduced the transaction handling fee and the trading unit fee, amounting to more than 27 million yuan, and reduced the listing fee amounting to 10.18 million yuan. Third, the SSE strived to improve its regulatory services. For example, it unified the assets accreditation requirements for investor suitability management in six business categories to facilitate investor participation in trading; it launched the “one-stop cloud service”, which has provided technical support for more than 2,000 online performance presentations and online voting events; it focused on building a new bond trading system independent of stock trading, optimizing the normalized trading and transfer system for risk and default bonds.
Next, under the unified guidance of the China Securities Regulatory Commission, the SSE will continue to listen to the reasonable demands of the general public and the market, and make solid efforts to provide service on what concerns the public, forming a regular implementation and feedback mechanism to make the general public feel the effect.
