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Shenzhen Stock Exchange To Take On The Responsibility As A Trailblazer In The Capital Market And To Promote The High-Level Circulation Of Technology, Capital And The Real Economy - Wang Jianjun, Chairman Of Shenzhen Stock Exchange, Attended The Seventh Western China Hi-Tech Industry And Financial Capital Forum

Date 23/10/2020

SZSE_Forum_23Oct20

From October 20 to 21, the Seventh Western China Hi-tech Industry and Financial Capital Forum was held in Chengdu by the Central Committee of the China National Democratic Construction Association, the Ministry of Science and Technology of the People’s Republic of China, the People’s Government of Sichuan Province and Shenzhen Stock Exchange (SZSE). The topic of the forum for the year is “Integrating Technology and Financial Innovation to Promote High-quality Economic Development”. SZSE has co-hosted this technology and finance connection event seven times running. After years of efforts by all parties, the forum has become an important platform for promoting the connection of industry and finance and promoting technological innovation, and has played an important role in supporting economic transformation and upgrading and in boosting high-quality development. Wang Jianjun, Secretary of the Party Committee and Chairman of SZSE, attended the opening ceremony and delivered a speech.

Innovation is an important theme of our time. At the Celebration of the 40th Anniversary of the Establishment of the Shenzhen Special Economic Zone, General Secretary Xi Jinping summed up the valuable experience in the construction of the Special Economic Zone. One of the main lessons is “to take innovation as the primary driving force”. As a core institution in the capital market, SZSE has, holding high the banner of innovation, guided all kinds of capital to funnel into scientific and innovative sectors to facilitate the transformation of scientific and technological achievements, and promote the high-level circulation of technology, capital and the real economy.

Since the establishment of the ChiNext Board 11 years ago, SZSE has persisted on serving, supporting and leading innovation. The average annual R&D intensity of listed companies on the ChiNext Board has exceeded 5%, the compound growth rate of average net profit is over 20%, and import substitution for products and technologies has been realized in 60% of those companies, strongly advancing the formation of a new development pattern of dual circulation. This year, the reform of the ChiNext Board and the pilot project of the registration-based IPO system have been implemented smoothly, and market operation is stable overall, with parties feeing a clear sense of gain from the reform. The experience has enhanced SZSE’s ability to serve the national strategy of innovation-driven development and promote the high-quality development of local economies.

Supporting the construction of the Chengdu-Chongqing economic circle is a major decision and arrangement of the CPC Central Committee with Comrade Xi Jinping as the core. SZSE will continue to consolidate the results of the reform of the ChiNext Board and the registration-based IPO system and fully support the integrated development of Chengdu and Chongqing. First, supporting equity financing. SZSE will continue to enhance market inclusiveness, provide high-quality and efficient services for qualified high-tech enterprises to go public, give full play to the market functions of refinancing and mergers and acquisitions, and promote the high-quality development of Sichuan-based listed companies. Second, giving play to the financing function of the bond market. SZSE will support governments and enterprises to issue bonds and other fixed income products on SZSE, support the issuance of Chengdu-Chongqing ETFs, mutual REITs for infrastructure and other innovative products, enrich investment products and expand financing channels. Third, optimizing local services. SZSE will strengthen the function of its western base, expand coverage in the western provinces, and deepen the exchange of financial talents to cultivate a team of capital market professionals for Sichuan Province. Fourth, giving full play to joint forces. SZSE will deepen cooperation with governments at all levels, strengthen the connection with stock exchanges and venture capital to jointly build an innovative capital ecosystem in Sichuan Province.

Recently, the General Office of the CPC Central Committee and General Office of the State Council jointly issued the plan for implementing pilot comprehensive reform of the pilot demonstration zone, clearly supporting Shenzhen to take the lead in the development of the capital market. SZSE will resolutely shoulder the responsibility as a trailblazer in the capital market, implement the guiding principles of General Secretary Xi Jinping’s important speeches and the major decisions and arrangements of the CPC Central Committee and the State Council, and strive to turn every reform into a high-quality program. SZSE shall make great efforts to accelerate the building of itself into a high-quality innovative capital center and a world-class stock exchange, and give full play to the pivotal role of capital market so as to better support the economic and social development in western regions, including Chengdu and Chongqing, actively serve the creation of a new development pattern of dual circulation and fully support scientific and technological innovation as well as high-quality economic development.