Shenzhen Stock Exchange Revises The Guidelines For SME Board Sponsoring Work And Standardizes The Content And Format Of On-Site Inspection Report

Today, the SZSE released the “Guidelines for SME Board Sponsoring Work” which has been revised for twice. The Guidelines takes the further step to clearly specify the rights and obligation of sponsoring institutions and sponsoring representatives in respect of sustained supervision and guiding. And the Guidelines put forward the detailed requirements and standards focusing on on-site inspection, attention and report by the sponsoring institutions and sponsoring representatives, independent opinions and annual sponsoring work report and so forth.

The SZSE promulgated the first “Guidelines for SME Board Sponsoring Work” in August 2004, then revised the Guidelines for the first time in December 2008. In order to further strengthen the role of the sponsoring institutions and sponsoring representatives, practically give the full play to the function of sponsoring institutions and sponsoring representatives with regard to the sustained supervision and guiding, in light of the actual situation of the sponsoring business in recent two years, the SZSE revised the “Guidelines for SME Board Sponsoring Work” for the second time. And the main revised contents are as follows:

1. Explicitly setting forth the content and format of the regular on-site inspection report.
2. Further laying down the emphasis that the sponsoring institutions shall practically perform the duty of “Attention and Report”.
3. Taking the further step to standardize the independent opinions issued by the sponsoring institutions.
4. Adjusting and clearly detailing the content and format of the annual sponsoring work report.

The SZSE person in charge of the case noted that the SME board sponsoring institutions and sponsoring representatives shall conscientiously study, strictly put into practice the relevant requirements of the revised guidelines, and further improve the quality of the sustained supervision and guiding work. The SZSE will further strengthen the regulation on the relevant work of SME board sponsoring institutions and sponsoring representatives in combination with the assessment on annual sponsoring work pursuant to the requirements of the Guidelines, practically exploit the function of the sponsoring institutions and sponsoring representatives in the supervision and guiding, getting these sponsoring parties the powerful security for the sustainable and healthy development of the SME board.