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To implement the requirements of the “Notice of the National Development and Reform Commission and the China Securities Regulatory Commission (CSRC) on Advancing the Work Concerning the Asset Securitization for the Public-Private Partnership (PPP) Projects in Traditional Infrastructure Fields” (NDRC Investment [2016] No. 2698) and other documents, push forward the innovation in the financing modes of the PPP projects and improve the capability of serving the real economy, the Shanghai Stock Exchange (SSE), in accordance with the “Administrative Provisions on the Asset Securitization Business of Securities Companies and Subsidiaries of Fund Management Companies” and the “SSE Business Guidelines for Asset Securitization”, makes the announcement on the matters concerning the advancement of the asset securitization business for the PPP projects as follows:
1. The SSE encourages and supports the enterprises and relevant intermediaries with PPP projects in vigorously carrying out the asset securitization business for the PPP projects according to law. All parties concerned shall be diligent and dutiful, strictly abide by the professional standards and regulatory requirements, and effectively fulfill the responsibilities such as due diligence, information disclosure, collection of cash flow, income distribution and risk prevention and control, so as to ensure the steady operation of the business, protect the interests of the investors and safeguard the market stability.
2. The SSE has set up the working group for asset securitization of PPP projects, and arranged for special personnel to be responsible for implementation. Besides, it has set up the green channel for the qualified products of asset securitization of the quality PPP projects, in a bid to improve the efficiency in acceptance, review and listing and transfer. At the stage of project application, review will be immediately conducted after the submission of the application, and the feedback opinions will be issued within 5 workdays after the acceptance. The working group meeting will be held within 3 workdays after the manager submits reply of confirmation to the feedback, so as to determine whether the application meets the requirements for listing. At the stage of listing of projects, there will be a specially-assigned person and post in charge to improve the efficiency in dealing with the process of listing.
3. According to the unified arrangement, the SSE has set up the communication and linkage mechanism with the CSRC, the NDRC, the Asset Management Association of China, the Securities Association of China and other exchanges, so as to vigorously push the qualified projects to realize the market-based financing by means of asset securitization and provide cooperation and support for the PPP projects to link up with the capital market.
The contact persons of the SSE working group for asset securitization of PPP projects: He Ruixiao, Tel: 021-50186162; Xu Chengzhi, Tel: 021-50185671; Hu Shuangli, Tel: 021-50185107. Email for Asset Securitization Business: sseabs@sse.com.cn.
