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Vice President Liu Xiaodong of the Shanghai Stock Exchange (SSE) briefed the media on and answered questions of reporters about the "SSE Strategic Plan (2011-2020)" at a news conference on strategic plan held by the SSE, which will celebrate its 20th birthday soon, in Shanghai on December 10.
After elaborating on the SSE's strategic goals and implementation measures, Liu stressed that the SSE would go all out to fulfill its ultimate aim of building itself into a world-class bourse with improved market, sound legal system, state-of-the-art technology, efficient operation and global radiation by pressing on with five aspects of work by three stages. In the short term (from 2011 to 2013), the SSE would highlight over 100 specific work included within 37 tasks.
According to its long-term strategic development objective, by 2020, the SSE would grow into one of the most influential bourses in the world, boasting a mature stock market, an improved bond market, a highly developed fund market, an abundance of securities derivatives and an increasingly rational investor structure.
During the second phase of the strategic plan from 2014 to 2016, the SSE is expected to evolve into a major capital market in Asia with a more favorable competitive position in the world arena thanks to its efforts in market deepening, self-regulation supervision, technical service, mechanism construction and international cooperation.
In 2013, the SSE will (1) fuel the construction of international board by accelerating the return of red-chip companies to the A-stock market in collaboration of regulatory authority and probing into the system arrangements for domestic issuing and listing of overseas enterprises, (2) speed up the system building of bond market in line with the requirements of the national "12th Five-year" Plan to lay a solid foundation for the system construction of a multi-layer capital market, (3) boost the development of index products by perfecting index series and setting up a blue-chip market index system, (4) enrich single-market ETF varieties by introducing cross-market ETFs based on the SSE and the Shenzhen Stock Exchange as well as cross-border ETF products, and (5) go into agreements with overseas index agencies with a view to forming an authorized index pattern with a global coverage and a complete layout.
In Liu's opinion, the SSE's release of its strategic plan prior to its 20th anniversary not only fully demonstrated its firm belief in its future development but also came out as a positive move to win broad social recognition and unite strengths from all sides for its growth.
