Recently, the Shanghai Stock Exchange (SSE) and China Cinda Asset Management Co., Ltd. (hereinafter referred to as China Cinda) signed a strategic cooperation memorandum. Liang Qiang, Deputy Secretary of the Party Committee and President of China Cinda, and Cai Jianchun, Deputy Party Secretary and President of SSE, attended the signing ceremony and witnessed the signing.
At the signing ceremony, Liang Qiang said that China Cinda has resolutely fulfilled its duty to prevent and resolve financial risks and serve the real economy. Committed to the main business of non-performing assets management, it effectively improves its financial services to help build a new development pattern. In recent years, under the guidance and assistance of the SSE, by providing a full range of financial services such as liquidity support, asset and debt restructuring, and market-based debt-to-equity swaps, China Cinda has taken advantage of the capital market and helped the growth of real enterprises in new economic spheres and the high-quality development of listed companies. This has brought favorable results in key tasks such as risk resolution of listed companies, the listing of Cinda Securities on the SSE Main Board, ABS issuance, and revitalization of assets of central SOEs and SOEs' auxiliary businesses. Based on the present and looking into the future, China Cinda will take this memorandum as an opportunity to strengthen its strategic cooperation with the SSE and establish a regular communication mechanism. It will leverage the capital market, further focus on its main duties and business, and effectively play its professional role in resolving financial risks, serving the real economy, and deepening financial reform to make due contributions.
Cai Jianchun said that the report to the 20th CPC National Congress pointed out that high-quality development is the primary task of building a modern socialist country in all respects. This requires full implementation of the new development concept and acceleration of the construction of a new development pattern. The SSE conscientiously implements the decisions and arrangements of the CPC Central Committee and actively exploits the functional advantages of the exchange to provide comprehensive services across the product lines. All along, the SSE and China Cinda have maintained a good cooperative relationship, creating a broad basis and space for cooperation. In a period of new historical opportunities, the two sides will enter a new stage of cooperation. The SSE will further strengthen its communication and exchange with China Cinda, and explore the establishment of a cooperation mode with the characteristics of financial asset management companies. It will conduct comprehensive and in-depth cooperation with China Cinda in improving the quality of listed companies, participating in professional integration, revitalizing existing assets, mitigating risks of listed companies, dealing with bond defaults, listing companies in new economic spheres, and innovating products and international business. Moreover, the SSE will push forward the implementation of demonstration cases with the least delay to make new and greater contributions to the construction and high-quality development of the capital market.
According to the strategic cooperation memorandum, the two sides will further strengthen work connection and introduce a package of co-construction mechanisms in realizing advantages complementation, strengthening policy exchange and information sharing, and establishing a long-term and stable cooperation mechanism to jointly improve the quality of listed companies and promote the healthy development of the bond market.
Officials from relevant departments of the SSE and China Cinda attended the signing ceremony and discussion.
