SZSE Signs Strategic Cooperation Framework Agreement with Zhuhai Municipal Government to Serve Zhuhai’s Construction into Important Portal in Guangdong-Hong Kong-Macao Greater Bay Area
On September 23, the Shenzhen Stock Exchange (SZSE) signed a strategic cooperation framework agreement with the Zhuhai Municipal People’s Government. Both sides deeply exchanged views on leveraging Zhuhai’s economic development characteristics and industrial features to further provide targeted capital market matchmaking and cultivation services and to jointly facilitate the construction of the Guangdong-Hong Kong-Macao Greater Bay Area. Wang Jianjun, Secretary of SZSE Party Committee and Chairman of SZSE, and Guo Yonghang, Secretary of Zhuhai Municipal Party Committee, attended the signing ceremony and unveiled the nameplate of the Zhuhai Listed Enterprise Association.
As a core city in the Guangdong-Hong Kong-Macao Greater Bay Area, Zhuhai boasts prominent strategic location advantages, solid traditional industries, and fast-growing emerging industries. In recent years, the Zhuhai Municipal People’s Government has thoroughly implemented the requirements in General Secretary Xi Jinping’s important speeches and instructions to Guangdong and Zhuhai; the government has continuously strengthened capital market construction, supported the listing of excellent enterprises, served the innovation-oriented economic development, and steadily improved the level of securitization. Thus, distinctive features have developed in Zhuhai’s high-end equipment manufacturing, biomedicine, integrated circuits, aerospace, information technology and other sectors. A batch of industry-leading enterprises represented by Gree and Livzon Group has gathered in Zhuhai. All these contribute to the local economic transformation, upgrading and high-quality development of the regional economy.
SZSE has long been devoted to cultivating Zhuhai’s capital market and maintained close communication and cooperation with the Zhuhai Municipal People’s Government. SZSE is the very venue where most Zhuhai enterprises go public. As at the end of August 2020, 26 Zhuhai companies were listed on SZSE with a total market capitalization of RMB627.9 billion. SZSE has achieved remarkable results in providing bond market services for Zhuhai companies, as it has cumulatively assisted 19 companies in issuing RMB28.5 billion of corporate bonds and RMB16.8 billion of asset securitization products. The signing of this strategic agreement is a pragmatic measure for SZSE and Zhuhai to further improve the investment and financing matchmaking mechanism and expand the depth and breadth of “localized” services on the basis of previous good cooperation.
According to the agreement, the two sides will deepen the cooperation in cultivating backup pre-IPO companies, improving the quality of listed companies, developing fixed income products, matchmaking investment and financing roadshows, building the scientific and technological financial service system and other aspects. SZSE will further play the role of a capital market hub and the advantage in promoting the formation of innovation capital to extend the professional and localized service chain。 Through the collaboration with the Zhuhai Listed Enterprise Association and other institutions, SZSE will support Zhuhai’s supply-side structural reform based on the capital market, serve enterprises’ listing and financing, and fully and properly utilize bond market tools. All these efforts aim to improve the quality of listed companies and facilitate Zhuhai’s construction into an important portal in the Guangdong-Hong Kong-Macao Greater Bay Area, a core city on the western bank of the Pearl River Estuary and a model of high-quality development in the coastal economic belt.
With consistent emphasis on the listing cultivation for enterprises, SZSE has now formed a relatively complete service ecological chain with targeted services based on the key industries and development characteristics of different regions. That has greatly improved the quality and efficiency of localized services. Next, SZSE will continue to strengthen close cooperation with local governments, keep innovating service models, raising service accuracy, and expanding service breadth. SZSE will advance the formation of listed company groups that reflect the high-quality development requirements, work faster to integrate into the new development pattern where domestic and foreign markets boost each other with domestic market as the mainstay, and strive to play a pivotal role in promoting the high-level circulation of technology, capital and the real economy.
