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On 27 December, Shenzhen Stock Exchange (SZSE) held the 3rd Meeting of the 4th Board of Directors. Under guidance of Xi Jinping’s socialism with Chinese characteristics for the new era, the meeting fully implemented the spirit of the 19th National Congress of the Communist Party of China (CPC), the Central Economic Work Conference and the National Conference on Financial Work as well as the decisions and arrangements of China Securities Regulatory Commission Party Committee. At the meeting, relevant work arrangements of carry out the Measures for the Administration of Stock Exchangeswere was studied and deliberated, Board of Directors’ work summary for 2017 and work plan for 2018 were briefed, SZSE’s work summary for 2017 and work arrangements for 2018 were formulated.
It was pointed out at the meeting that Measures for the Administration of Stock Exchange was important rules and regulations in capital market, an important exploration on the matter of what kind of Stock Exchanges should be built and how to achieve it. It clearly required Exchanges to strengthen the leadership of the Party, perfect regulating functions, optimize governance structure, it was of great significance on consolidating Exchanges’ development foundation and promoting the sound development of multi-layer capital market. It was emphasized at the meeting that SZSE shall take the opportunity of the revising of Measures for the Administration of Stock Exchanges, sort out and fix regulation short board systematically and comprehensively, implement methods and requirements into all rules and regulations and guarantee the implementation in a proper way. SZSE Regulations was revised to further strengthen the Party’s leadership and improve governance operation; the agreement on the listing of securities was revised to consolidating SZSE’s front-line supervision foundation, Rules Governing the Listing of Stocks, Rules Governing the Listing of Corporate Bonds, Rules of Membership Management and other business rules and matched regulations were revised to enrich supervision methods and regulate supervision process. It was required at the meeting that SZSE should earnestly implement the methods and requirements, broadly gather market consensus, enhancing the understanding and acknowledge of all parties and further give a full play to SZSE’s organization, supervision, management and service functions. SZSE should handle the changes of circumstances in the market, optimize market resource allocation and upgrade market development quality to protect legitimate right of the investors practically and construct a sound eco-market for the capital market’s long and steady development.
The SZSE’s work in 2017 was highly recognized at the meeting. Over the past year, SZSE has stuck to its mission and bearings and coordinated the overall development. Under the guidance of the spirit of the 19th CPC National Meeting, SZSE earnestly carried out the Party and Nation’s policies and guidelines as well as decisions and arrangements of China Securities Regulatory Commission Party Committee, deeply fulfilled the requirements on the Resolution of Membership Meeting and initiated new situations for various undertakings comprehensively as follows: firstly, it thoroughly studied and implemented the spirit of the 19th CPC National Meeting, put Xi Jinping’s thought of socialism with Chinese characteristics for the new era as action guidance for all the work; secondly, it adhered to the overall tone of making progress while maintaining stability, fully strengthened market risk control, perfected risk management mechanism, managed risk monitoring, checking and handling, spared no effort in maintaining the steady operation of the market; thirdly, it shouldered its responsibility of front-line supervision role, strengthened supervision on high-risk listed companies, persistently implemented the responsibility of delisting participants, built a transaction behavior supervision model “centered at the supervision member”, strictly monitored unusual transactions; fourthly, it persevered in new development idea, significantly enhanced the ability of direct financing, achieved breakthrough in local bonds issuance, further perfected market cultivating service system, constantly reinforced poverty alleviation and earnestly lifted its ability to serve real economy; fifthly, it stayed true to its mission of constructing capital market, formulated the outline of development strategic plan through research, advanced reform and development tasks orderly, restored the member meeting, improved governance structure, organized technical conference and lead the industry’s technology development; sixth, it participated actively in the construction of “the Belt and Road”, steadily advanced intercommunications, perfected cross-border capital service mechanism and initiated “ELITE V-Next Alliance”.
It was highlighted at the meeting that 2018 would be the first year of implement the spirit of the 19th CPC National Meeting, the 40th anniversary of the opening-up and reform, and a curtail year of connecting link between the preceding and the following in build a moderately well-off society in an all-round way and implementing the “13th Five-Year Plan”, as well as the first year of the implementation of the newly revised Measures for the Administration of Stock Exchanges. The Board of Directors and its operation lineup should thoroughly implementing the spirit of relevant CPC Meetings, focusing on the three battles and eight major tasks, comprehensively carry out the requirements of Measures for the Administration of Stock Exchanges in accordance with the decisions and arrangements of China Securities Regulatory Commission Party Committee, push the implementation of new development idea in SZSE in an all-round way, exert itself in reinforcing reform and innovation, control financial risk effectively, strive to build SZSE into a world-leading innovative capital formulation center and a world-class Stock Exchange with characteristics, contribute positively to the objectives and tasks specified by the 19th CPC National Meeting. The following work were studied at the meeting: firstly, put the study and promotion of the spirit of the 19th CPC National Meeting as a primary political task, arm people’s brain with Xi Jinping’s thought of socialism with Chinese characteristics for the new era and put it into practical use to promoting work; secondly, perfect multi-layer sections system of Shenzhen market, fully reinforce market reform to better serve start-up venture and innovation, support the development of new economy and promote more quality hi-tech enterprises entering capital market, assist the development of high quality economy, and lift the ability to serve real economy comprehensively; thirdly, push the construction of market products system, steadily launch the stock ETF option pilot on the base of strict risk control, vigorously develop high-end fixed income products, improve bond market structure, actively carry out innovation on REITs and other products, and serve the implementation of the national house leasing policy; fourthly, centering on the risk prevention of listed companies, market transactions and facility operation and maintaining and other core fields, fight in the battle of risk prevention and elimination, firmly hold on to the bottom line of no systematic finance risk; fifthly, stick to fully strict supervision in accordance with the law, motivate supervision methods such as penalty of punishment and on spot inspection, enrich technical supervision methods and make no effort in lifting its front-line supervision efficiency; sixthly, actively serve the country’s avocation of the “Belt and Road”, take initiative in participating the country opening-up strategy as a whole, achieve the new breakthrough in the international development of SZSE.
The 3rd Meeting of the 2nd Supervisor Committee was held on the same day, during which the Supervisor Committee’s work summary for 2017, work arrangements for 2018 and other matters were deliberated.
