On September 18, SZSE held the “Capital Market Assists in the Development of Central SOEs” symposium. It is an important entry point for SZSE to carry out in depth the guiding principles of the meeting of the Central Committee for Deepening Overall Reform, promote the implementation of the Three-year Action Plan for the Reform of State-owned Enterprises, give play to the role of the capital market as a hub and the innovation capital formation advantage, and improve the capability to serve central SOEs and state-owned enterprises (SOEs). The symposium was held at the SZSE Zhongguancun Cultivation Base for Listing of Innovation-oriented Venture Enterprises. Heads of relevant departments of the State-owned Assets Supervision and Administration Commission, 15 central enterprises and SZSE attended the symposium.
The symposium briefed the development of the market reform of SZSE, the construction of the bond market and the progress of the pilot project of publicly offered infrastructure REITs. Representatives present at the symposium had full communication on enterprise listing, M&A and restructuring, equity incentive, standard operation, fixed income and fund business and offered constructive suggestions to SZSE on how to further deepen the reform, better serve the reform of state-owned assets and SOEs and assist central enterprises and SOEs in becoming better and stronger.
Central SOEs and SOEs are important foundation to promote high-quality development of the national economy and important pillars to maintain sustainable, healthy development of the capital market. They play a critical role in facilitating the formation of the new development pattern featuring “dual circulation”. This June, the Central Committee for Deepening Overall Reform deliberated and adopted the Three-year Action Plan for the Reform of State-owned Enterprises, sending the reform of SOEs into a new round of acceleration and upgrading. The capital market, with its pricing function and risk sharing and profit sharing mechanisms, is the most direct and the most efficient platform for deepening the reform of SOEs. It helps SOEs accelerate in improving their modern corporate system, optimizing the distribution of state-owned business and enhancing the efficiency of resource allocation. In recent years, SZSE has paid great attention to serving the central SOEs. SZSE has developed diversified connections to 67 central SOEs and established a strategic cooperation relationship with 22 of them. SZSE has deepened cooperation by supporting enterprises’ IPO, issuing fixed income and fund products, connecting with investment and financing platforms, conducting special training sessions and discussions. All these have produced positive results. As at the end of August, a total of 157 companies controlled by central SOEs were listed on SZSE, and central SOEs and their subsidiaries issued about CNY 751.4 billion fixed income products at SZSE.
Driving more quality assets of central SOEs to use the capital market to preserve and increase their value and assisting listed companies controlled by central enterprises in becoming better and stronger are important content of SZSE’s building of a “quality innovation capital center and world-class exchange”. Next, SZSE will, taking the opportunity of the smooth implementation of the reform of the ChiNext Board and the pilot project of the registration-based IPO system, continue to improve institutional inclusiveness and adaptability, support the listing and development of quality companies including central SOEs and SOEs, and provide a comprehensive service package including listing cultivation, project roadshow, investment and financing matchmaking, policy interpretation and special training. SZSE will strengthen the comprehensive effectiveness of the reform of SOEs, facilitate the formation of a group of listed companies that can reflect high-quality development, promote high-level circulation of technology, capital and the real economy, and better serve overall economic and social development.