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On 28 July, 2017 Shenzhen Stock Exchange (hereinafter as “SZSE”) and the Chinese Academy of Sciences (hereinafter as “CAS”) signed the Agreement on Strategic Cooperation in Shenzhen. Present at the signing ceremony included vice chairman of SZSE Zhang Ying, vice general manager of SZSE Jin Liyang, secretary general of CAS Deng Maicun, chairman of the board of CAS Holdings Wu Lebin, and general manager of CAS Holdings Suo Jishuan.
As per the agreement, both parties shall, based on the principle of “complementing advantages” and “win-win cooperation”, forge a long-term cooperative relationship that is all-sided, multilayer and reciprocal. Both sides shall collaborate to support listed companies which are developing in accordance with laws and regulations by making use of the capital market, nurture companies planning to go public stage-by-stage in batches, develop diversified financing channels such as bond issuance and build a platform for investment and financing.
CAS attaches considerable emphasis to the role of the capital market. Up till now, it has a total of 25 companies listed overseas and domestically, and another 15 on the National Equities and Exchange Quotations. Over the years, SZSE has been actively involved in facilitating the construction of a multilayer capital market, building a center for innovation capital and constantly improving its capacity to serve the real economy. There over 2000 listed companies in the Shenzhen market by now, most of which are strategic and emerging enterprises. For instance, on the ChiNext board, over 70 percent are strategic and emerging companies; more than 90 percent of them have the core competence of research and development; and over 90 percent are high-tech companies.
Both parties expressed that, by taking the opportunity of the cooperation agreement, they shall continue in collaboration to launch training programs, researches and road shows for investment and financing, facilitate the integration of the innovation chain, the industrial chain and the capital chain, promote the role of finance to serve the real economy, and nurture new growth drivers for the economy so as to serve the nation’s general goal of strategic development in a broader sense.
