Honorable Secretary Meng Fanli, ladies and gentlemen,
Good morning!
It is a great pleasure to attend the opening ceremony of "the Venture Capital Day of Shenzhen" and the SZSE Technology and IP Exchange. I would like to extend my warm congratulations on the successful convening of this conference on behalf of CSRC.
Sci-tech self-reliance and self-strengthening at higher levels is a strategic pillar for a nation to develop. Under the new situation, the importance of independent innovation during China's modernization is further heightened. The report to the 20th National Congress of the Communist Party of China said “we will improve the scientific and technological innovation system,” and “innovation will remain at the heart of China’s modernization. We will promote closer enterprise-led collaboration between industries, universities, and research institutes, and stay goal oriented and promote the industrial application of scientific and technological advances.” This has pointed out the way forward for us to carry out our work and provided a fundamental road map. Capital markets are playing an increasingly important role in supporting technological innovation. In recent years, the CSRC has comprehensively deepened reform, set up the Science and Technology Innovation Board (the STAR Market), successfully launched the pilot projects of the registration-based IPO system for ChiNext Board and the STAR Market, further reformed the NEEQ, established the Beijing Stock Exchange, promoted innovation in regional equity market through pilot projects, and made efforts to smooth the virtuous circle of science and technology, capital and real economy.
As an important channel of direct financing and a carrier for innovation capital, private equity and venture capital play an important role in promoting scientific and technological innovation. At present, the number and scale of private equity and venture capital funds in China are among the top of the world, and the funds invested in semiconductor, computer application, biomedicine, new energy and other industries have continuously increased. An increasing number of investors are embracing and implementing the idea of "making early investments in small high-tech enterprises", showing an especially high penetration for investment in unlisted enterprises. Since the registration-based reform, more than 80% of the STAR Market-listed enterprises and 60% of the ChiNext Board-listed enterprises have received investment from private equity and venture capital funds before listing. Shenzhen is one of the regions with the highest concentration of private equity and venture capital, and its capital management and investment sizes are leading in the country. A large number of well-known private equity and venture capital institutions have emerged in Shenzhen, which support the development and growth of a large number of technological innovation enterprises. This has effectively promoted the transformation and upgrading of regional industries.
The construction of the SZSE Technology and IP Exchange is an important move to implement the decisions and deployments of the CPC Central Committee and the State Council on supporting Shenzhen to build a pilot demonstration zone of socialism with Chinese characteristics and a high-standard market system. With the strong support of the National Development and Reform Commission, the Ministry of Science and Technology, the State Administration for Market Regulation, the China National Intellectual Property Administration, CPC Shenzhen Municipal Committee and Shenzhen Municipal People's Government, after in-depth surveys and full demonstration, the SZSE Technology and IP Exchange is officially launched today. Here, I would like to express my heartfelt thanks to the above-mentioned ministries and commissions, CPC Shenzhen Municipal Committee and Shenzhen Municipal People's Government and friends from all walks of life for their long-term care, support and assistance!
The SZSE Technology and IP Exchange focuses on promoting the transformation of scientific and technological achievements, giving full play to the strengths of the capital market, and serves as a national comprehensive service platform connecting the technology market and the capital market. The SZSE Technology and IP Exchange will actively explore the market mechanism, resource integration and supporting services to optimize the matching among "innovation chain-industry chain-capital chain-talent chain". By establishing the SZSE Technology and IP Exchange, the multi-level capital market system, including SZSE, will further deepen cooperation with colleges and universities, research institutes, science and technology enterprises, private equity and venture capital, joining their efforts to promote the deep integration of technology, talents and innovative capital at high levels, and drive the high-quality development of technology market and capital market.
Distinguished guests, Shenzhen is an important window for China's reform and opening up, and has become an international innovative city of charm, momentum, vitality and innovation. Shenzhen Municipal Party Committee and Municipal Government are making distinctive and effective support to innovative investment. On the new journey of building a socialist modernization country in an all-round way, CSRC will continue to actively support Shenzhen to accelerate innovation and exploration, promote the high-quality development of the venture capital industry. Taking the Venture Capital Day of Shenzhen and the opening of the Center as an opportunity, we will further improve the system and mechanism of the capital market to support scientific and technological innovation, and work together to contribute to the modernization of China.
Finally, I wish this event a full success! Thank you!
