From November 27 to 29, SZSE, together with China Securities Regulatory Commission (CSRC) Jiangsu Bureau and Jiangsu Local Financial Supervision and Administration Bureau, jointly launched “2019 Jiangsu Service Week” for the capital market. During the event, SZSE and the People’s Government of Jiangsu Province had in-depth communication and discussions on how to give better play to the functions of the capital market to serve Jiangsu’s high-quality economic development, and jointly inaugurated SZSE Jiangsu Cultivation Base for Listing of Innovation-oriented Enterprises and Startups (“Jiangsu Base” hereinafter). Deputy Director Liu Handong of the Standing Committee of the Jiangsu Provincial People’s Congress, SZSE Deputy Party Secretary and Chairman of Supervisory Board Yang Zhihua, etc. attended the event. The Service Week is the new starting point of deepened cooperation on all sides between SZSE and Jiangsu, which will further support the development of Jiangsu’s capital market and assist in the building of a new Jiangsu featuring strong economy, well-off citizens, beautiful environment and social progress.
Jiangsu boasts a strong industrial base, excellent science & technology and education capacity, and solid overall economic strength. In recent years, Jiangsu has been implementing in depth the national innovation-driven development strategy, facilitating deep integration of science and technology with industries, and leveraging the capital market to promote local economic transformation and upgrading. SZSE and Jiangsu have maintained close cooperation. In December 2017, to better serve Jiangsu’s new development strategy of focusing on innovation and enriching the people and building a moderately prosperous society in all respects according to high standards, SZSE developed the special “new financial highland” cooperation program for Jiangsu and continued to conduct interviews and surveys, training, exchanges and roadshows, which produced excellent effect. So far, there are 234 SZSE-listed companies in Jiangsu, with total market capitalization of over CNY1.68 trillion and cumulative equity financing of CNY524.2 billion, of which the financing amount of fixed-income products issued by entities of various types was CNY362 billion.
The Jiangsu Base, jointly built by SZSE, Jiangsu Local Financial Supervision and Administration Bureau and Jiangsu High-tech Investment Group, has four functions, namely, cultivating companies to be listed, serving listed companies, carrying out roadshows and promotion events for startups and training of financial officials. It is a positive result of the implementation of the special “new financial highland” cooperation program. SZSE will, based on the Jiangsu Base, give play to its own advantages and characteristics to expand direct financial channels for enterprises in Jiangsu, provide whole-chain, lifecycle and professional cultivation services and actively channel funds to the real economy of Jiangsu.
During the Service Week, SZSE adopted different policies in different cities of Jiangsu including Nanjing, Suzhou, Taizhou, Yangzhou and Xuzhou based on their regional characteristics and economic development level, conducted diversified business training sessions including training on IPO, refinancing, M&A and restructuring and fixed-income products, and provided a package of “localized” services including listing resource cultivation, investor education, technology finance roadshows and training of financial officials. A total of 7 training sessions, 6 forums and 2 roadshows were held, covering nearly 350 enterprises of various types.
In recent years, SZSE has been deeply involved in the cultivation of local capital markets, taking the initiative to communicate with cities on their development needs, continuing to improve market service capacity, and actively exploring the establishment of a capital market ecology that serves innovation and startups. Next, SZSE will fully implement the major task of deepening the reform of the capital market on all sides assigned by CSRC, follow the work requirements of “Four Respects” (respecting the market, rule of law, professionism and risks) and “One Resultant Force” (seeking support from all sectors of society), stick to the fundamental mission of the financial industry to serve the real economy, give full play to the functions as a multi-tiered capital market platform, and continue to deepen cooperation with local governments. In addition, SZSE will enhance the “Service Week” brand, establish long-acting, local cultivation mechanisms, and provide comprehensive, whole-process, and integrated services, so as to promote high-quality development of regional economy.
