To further cement the capital market’s support on implementing the innovation-driven development strategy, boost the development of China’s hi-tech industries and strategic emerging industries and promote the quality, efficiency and impetus revolution of the economic development, China Railway Corporation (CR) and the Shanghai Stock Exchange (SSE) has signed a strategic cooperation agreement recently. And they had an in-depth talk again on implementing the agreement in CR on March 30. Attending the talk were Huang Min, CR Party Leadership Group Member and Vice General Manager, and Zhang Dongke, SSE Vice Chairman.
It is learnt that the two sides have carried out a series of cooperation and achieved some results. In December 2017, the SSE organized the training on basic stock knowledge and relevant policies for nearly 100 core personnel of CR and CR’s construction bonds were approved to be issued on the SSE. By signing the strategic cooperation agreement, the two sides will further strengthen the long-term strategic partnership in term of railway, complement each other’s advantages and realize resources sharing. CR and the SSE will carry out in-depth cooperation in developing diversified financing channels, cultivating reserve listed enterprises and guiding enterprises’ standard development, thus achieving their common development. They will further boost the issuance and trading of CR construction bonds on the SSE, promote qualified subjects or assets of CR to carry out bond financing and asset securitization on the SSE, assist CR in incubating, screening and cultivating reserve listed enterprises among its subsidiaries, and facilitate the capitalized, stocklized and securitized reform of railway enterprises in batches and at different levels by IPO, merger and acquisition, re-financing of listed enterprises and other methods. The SSE will provide CR with comprehensive and professional services in terms of product design, project demonstration, training, risk control and improving the enterprise’s standard development.
In recent years, China’s railway course, especially the development of the high-speed railway network, has made leap-forward development that has amazed the world. China has constructed and run the high-speed railway network with the largest scale and the highest modernization degree in the world. As the super-huge centrally-administered SOE, the industry leader and the representative of the new-economy enterprises in China, CR boasts of its distinct industry advantage, high-quality assets and abundant resources, and it has the great space and demand for utilizing the capital market.
As an important infrastructure of China’s capital market, the SSE is a comprehensive exchange that engages in spot goods and futures and boasts of the highest openness degree in China, and it is also one of the most eye-catching emerging securities markets in the world. The SSE products involve stocks, bonds, derivatives and funds. It has abundant experience and professional superiority in serving the financing need of the real economy. The SSE has given priority to serving pillar industries in national economy, new economy and hi-tech enterprises and launched a series of relevant measures.