Upon the advent of 14th ‘December 4th’ National Law Publicity Day, Shenzhen Stock Exchange (SZSE) launched a series of activities themed with “boosting law-based governance, and building a transparent and scientific system of business rules”.
The 4th Plenary Session of the 18th Central Committee of CPC has put the rule of law high on the agenda, said by an officer of SZSE. The rule of law is the cornerstone of the capital market. As an organizer and self-discipline regulator of the capital market, SZSE should play a positive role in the legalization process of the capital market. Themed with “boosting law-based governance, and building a transparent and scientific system of business rules”, SZSE launched the following activities:
- First, an Interpretation of Revised Listing Rules was published on SZSE’s official website, WeChat, Business Zone for Listed Companies and Zone for Member Brokers, so as to enhance the transparency of business rules and deepen market players’ understanding of business rules.
- Second, questionnaires on the rule system building were sent out to listed companies, member brokers and investors to extensively solicit market opinions, so as to further propel scientific, transparent and democratic rule-making. It is known that 418 feedback emails have been received by SZSE for the first three days since the activity launched. The opinions involved transparency of rule-making, matching explanations on rule-revising, channels for rule-publishing, simplification of rules and refinement of business processes.
- Third, in order to strengthen internal team building, SZSE arranged its staff to sit in on the hearing of securities misrepresentation cases at the Shenzhen Intermediate People’s Court, and carried out an essay contest in the entire exchange, which was themed with “publicizing and implementing the spirit of the 4th Plenary Session of the 18th Central Committee of CPC, and pushing forward the legislation of the capital market”.
To better implement the spirit of the 4th Plenary Session of the 18th Central Committee of CPC and the unified deployment of the China Securities Regulatory Commission, efforts to be made by SZSE in promoting the rule of law, governing by law and administration by law will focus on the following aspects:
- First, continuous improvement in self-discipline regulatory system. Keeping abreast of the amendment to the Securities Law and business development needs, SZSE will do a better job in the integration, abolishment, amendment and formulation of business rules, so as to enhance the perspectiveness, timeliness and effectiveness of rules, and build up a simple, efficient and open system of multi-level business rules.
- Second, being a frontline supervisor with the thinking and means of rule of law, and pushing forward the openness of rules and standards. Based on the previous four cleaning-up of review and registration matters, SZSE will make better achievements on the dynamic cleaning of review and registration matters in line with the requirements of law-abiding rights and liabilities, and streamline administration and institute decentralization, so as to facilitate the transformation of regulation, and improve regulatory efficiency and transparency. Besides, SZSE will stick to and further perfect the disciplinary enforcement mechanism based on the separation of investigation and judgment, so as to strengthen crackdown on illegal behaviors and protect investors’ legitimate rights and interests in accordance with laws.
- Third, optimization of the law-ruling environment in the capital market. SZSE will continue to participate in major legislation work such as the amendment to the Securities Law and formulation of the Futures Law, so as to consolidate the system base for the law-based governance over markets and the exchange.