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The 10th General Meeting of the Shanghai Stock Exchange (SSE) was held on April 18, 2020 in the form of video conference. The meeting was convened by the Board of Governors and chaired by Huang Hongyuan, with the attendance of the representatives of 117 members.
The meeting reviewed and approved the Work Report of the fourth SSE Board of Governors. The meeting fully recognized the work of the fourth Board of Governors, and held that the fourth Board of Governors was diligent and lived up to its responsibility, providing a solid guarantee for the reform and development of the SSE. The meeting deemed that as China's economy has entered a new era of high-quality development, under the new circumstances of advancing and deepening the reform of the capital market in an all-round manner, the SSE should seize opportunities and make continuous efforts. Under the strong leadership of the Party Central Committee with Comrade Xi Jinping at its core, in accordance with the unified deployment of the China Securities Regulatory Commission (CSRC), the SSE should continue to push forward the reforms in establishing the science and technology innovation board (SSE STAR Market) and piloting the registration-based IPO system, propel market development and product innovation, further improve the governance structure of the exchange, promote the high-quality development of the industry and the institutions, earnestly fulfill the social responsibilities, and work with the members to strive to build the SSE into a world-leading exchange with complete functions, efficient operation, leading technologies and international influence.
The meeting reviewed and approved the work report of the SSE president. The meeting fully recognized the work of the SSE's management team in 2019, and held that the management team always maintained the concentration on reform and regulation, and guided the SSE in achieving new results in all tasks, especially ensuring the successful implementation of establishing the SSE STAR Market and piloting the registration-based IPO system. The meeting required that the management team of the SSE should continue to make effective efforts in reform, development, stability and other aspects, defend the bottom line and red line for work safety, accelerate the reform and development of the SSE, improve the effectiveness of front-line regulation, advance the reg-tech construction, constantly enhance internal management, and strive to lift the undertakings of the exchange to a new level.
The meeting reviewed and approved the work report of the second Board of Supervisors of the SSE. The meeting fully recognized the work of theSecond Board of Supervisors, and held that the Second Board of Supervisors performed its duties in accordance with laws and regulations, and earnestly put forward supervisory opinions, providing a strong supervision guarantee for the continued and stable development of the SSE. The meeting required that the new Board of Supervisors should stay true to its original aspiration and mission, resolutely carry out its supervisory responsibilities, continuously improve its ability to perform its duties, and effectively protect the development of the exchange.
The meeting reviewed and approved the 2019 financial statements and 2020 financial budget report of the SSE. The meeting held that in 2019, the SSE successfully completed the budget targets set at the beginning of the year, with a sound financial situation. The 2020 financial budget has been formulated in a scientific and reasonable manner, with some indicators to be guaranteed and some to be limited. The meeting required that the SSE should strictly implement the financial system, and comprehensively strengthen financial management, so as to ensure the healthy development of the exchange.
The meeting reviewed and approved the "Shanghai Stock Exchange Constitution (2020 Revised Draft)". The meeting held that the newly amended “Securities Law” has been promulgated and enforced. In order to better conform to the higher-level law, it is indeed necessary to revise the “SSE Constitution” by reference to the new “Securities Law”. The "SSE Bylaws (Revised Draft)" have been revised in terms of expanding the scope of the SSE's functions and improving the functions and powers of the Board of Governors, so as to keep consistent with the new “Securities Law”. In addition, it has been amended in terms of optimizing member management and strengthening governance standards, etc., so as to meet the demands in practice. The meeting required that the "SSE Constitution (Revised Draft)" should be submitted to the CSRC for approval in accordance with relevant provisions.
The meeting elected the members of the Fifth Board of Governors, members of the third Board of Supervisors and members of the Policy Advisory Committee of Board of Governors.
The Fifth Board of Governors includes 8 members, namely (in alphabetical order for pinyin of company name, the same below):
Guotai Junan Securities Co., Ltd. (He Qing);
Huatai Securities Co., Ltd. (Zhou Yi);
Shenwan Hongyuan Securities Co., Ltd. (Chu Xiaoming);
Southwest Securities Co., Ltd. (Liao Qingxuan);
China Merchants Securities Co., Ltd. (Huo Da);
China International Capital Corporation Limited (Huang Zhaohui);
China Galaxy Securities Co., Ltd. (Chen Gongyan);
China Securities Co., Ltd. (Wang Changqing).
The third Board of Supervisors includes 3 members, namely:
Haitong Securities Co., Ltd. (Zhou Jie);
UBS Securities Co., Ltd. (Qian Yujun);
CITIC Securities Co., Ltd. (Zhang Youjun).
The Policy Advisory Committee of Board of Governors includes 19 members, namely:
Essence Securities Co., Ltd. (Wang Lianzhi);
China Great Wall Securities Co., Ltd. (Cao Hong);
Changjiang Securities Co., Ltd. (Liu Yuanrui);
Northeast Securities Co., Ltd. (Li Fuchun);
Orient Securities Co., Ltd. (Jin Wenzhong);
Soochow Securities Co., Ltd. (Fan Li);
Everbright Securities Co., Ltd. (Liu Qiuming);
GF Securities Co., Ltd. (Sun Shuming);
Sinolink Securities Co., Ltd. (Ran Yun);
Guosen Securities Co., Ltd. (He Ru);
Huachuang Securities Co., Ltd. (Tao Yongze);
J. P. Morgan Securities (China) Co., Ltd. (Bu Xueqian);
Nanjing Securities Co., Ltd. (Li Jianfeng);
Ping An Securities Co., Ltd. (He Zhijiang);
Tianfeng Securities Co., Ltd. (Wang Linjing);
Industrial Securities Co., Ltd. (Yang Huahui);
Zhongtai Securities Co., Ltd. (Bi Yuguo);
BOC International (China) Co., Ltd. (Ning Min);
Central China Securities Co., Ltd. (Chang Junsheng).
The meeting calls on the SSE and all its members to, at the period in which the timeframes of the "Two Centenary Goals" converge, stay focused and forge ahead, strengthen confidence and face up to the challenges under the strong leadership of the Party Central Committee and the State Council and the unified deployment of the CSRC Party Committee, coordinate the epidemic prevention and control and support for the development of the real economy, continue to fulfill the social responsibility for poverty alleviation, accelerate the construction of a world leading exchange, strive to promote high-quality development of the entire industry, and contribute to building a regulated, transparent and open capital market with vitality and resilience!
