On August 25, the Party Committee of SZSE held a special meeting to thoroughly study General Secretary Xi Jinping’s instructions at the symposium for experts in economic and social fields and the requirements raised by Vice Premier Liu He and CSRC Chairman Yi Huiman at the listing ceremony of the first group of companies under the reform of the ChiNext Board and the pilot project of the registration-based IPO system, and study and make arrangements for the reform tasks of SZSE.
As agreed by all attendees, in the important speech, General Secretary Xi Jinping emphasized the overall strategy for the national rejuvenation under the profound changes unseen in a century, comprehensively and profoundly expounded the new opportunities and challenges at the new stage of development, and made significant arrangements for economic and social developments in China. He pointed out the direction, and offered fundamental guidance for the “14th Five-Year Plan”. Second, Vice Premier Liu He made comprehensive arrangements for the reform and development of the capital market in his important speech, and CSRC Chairman Yi Huiman made specific plans for the implementation of the requirements raised by Vice Premier Liu He. Both echoed General Secretary Xi Jinping’s instructions on the capital market and pointed a way for SZSE to “build itself into a high-quality innovation capital center and world-class exchange”. We understand that with the honorable task come with great responsibilities.
At the meeting, all officials and employees of SZSE were required to thoroughly study and implement the General Secretary Xi Jinping’s important speech and the requirements of Vice Premier Liu He and CSRC Chairman Yi Huiman, and develop an in-depth understanding of the CPC Central Committee’s judgments on the domestic and foreign situations and the arrangements for economic and social tasks. We should also implement the principles of “system building, non-intervention, and zero tolerance” and meet the requirements of “the four awes (stand in awe of the market, rule of law, professionalism and risks) and one joint force (The capital market’s development needs all the efforts made by all sides)”. We should also accurately understand the new positioning, new goals, and new requirements in the reform and development of SZSE. Specific tasks of SZSE include the following: First, SZSE shall adhere to the positioning of the ChiNext Board and improve market inclusiveness and coverage to better serve high-tech enterprises and growing and innovative venture enterprises, support more quality companies in getting listed, and promote high-level flow of technology, capital and the real economy. Second, sticking to the market-oriented and law-based reform of registration-based IPO system and with information disclosure as the core, SZSE should continue to do a good job of the issuance and listing review, and strengthen the security of system operation to ensure the smooth implementation of reform measures. It should also keep track of and assess the effects of the implementation of the new system and rules, and gather experience for the promotion of the registration-based IPO system in the entire market. Third, SZSE shall help improve the quality of listed companies, exercise strict control over access and exit, forestall risks and leave the best in the market, and promote the high-quality development of listed companies. Fourth, SZSE shall, based on the “14th Five-year Plan” and according to the arrangements for comprehensively deepening the reform of the capital market, revise its strategic development plan, fully understand its new positioning, and form specific measures for implementation, in a bid to build itself into a “high-quality innovation capital center and world-class exchange” to better serve the overall economic and social development.
