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The Shanghai Stock Exchange (SSE) has recently held its annual event of 2009 Press Publicity Symposium in the sixth consecutive year. SSE Governor Geng Liang and President Zhang Yujun attended the meeting and introduced the SSE's major work in 2009. Fifteen leading media, including the Shanghai Securities News, took part in the symposium and joined in the positive and in-depth discussion on the stability and development of the SSE market. Geng stressed at the meeting that the primary mission of the SSE this year is to maintain stability in market development.
Geng said that the SSE has been keeping a good working relationship with the press media, and it thanks the media for their contribution to the development of China's securities market. According to Geng, China's economy and capital market will face both opportunities and challenges in 2009. We should strengthen our confidence in the face of challenges, maintain stability to overcome difficulties, and strive to do a better job by making greater efforts in the building of Shanghai into an international financial center as well as the development of national economy and China's capital market.
Geng concluded that confidence comes from the following aspects. First, our national economy as a whole still keeps a good momentum. Second, the basis of China's capital market is healthy, benefiting from a series of reforms on the securities market started a few years ago, including the equity division reform and the unremitting efforts in comprehensive governance of securities companies and improvement of the level of corporate governance of listed companies. Third, the confidence comes from the macroeconomic policies from the government on bolstering growth and expanding domestic demand as well as the continuous efforts by regulatory bodies on supporting the development of the securities market. Fourth, from the increasing trading volume, the investors' confidence on China's capital market is on rise.
Geng also emphasized that the primary task this year for the SSE is to maintain stable development of the market. First, we should ensure trading security and smooth operation of the market. Second, we must unswervingly push forward the construction of blue chip market. This year, the SSE will actively take measures to support the merger and reorganization of listed companies for improvement and optimization. Third, the SSE should overcome the difficulties to further perfect the market trading mechanism with the focus on the block trading market by introducing an information platform for it. Fourth, in terms of product innovation, the SSE will further the development of ETF, develop and introduce the SHSE-SZSE300 Index ETF in due time. Fifth, more efforts should be made to enhance the construction of the bond market by taking advantage of the return of listed commercial banks to the exchange's bond market.
