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SZSE and China Chengtong Holdings Group Co. Ltd. (hereinafter “CCT”) signed a strategic cooperation agreement in Shenzhen on May 28, 2018. It is an important measure for both parties to implement the guiding principles of the 19th CPC National Congress on deepening SOE reforms and promoting state-owned capital to grow stronger and better. It is also of great significance to give play to the capital market platform and to boost the quality and efficiency of SOE reforms. Wu Lijun, Party Secretary and Chairman of SZSE, Wang Jianjun, Deputy Party Secretary and President & CEO of SZSE, Ma Zhengwu, Party Secretary and Chairman of CCT, and Li Yousheng, Party Committee Member and Vice President of CCT, attended the signing ceremony.
CCT is among the first batch of pilot enterprises for establishing a standard board of directors and is the first pilot unit of state-owned asset management company under central enterprises. In 2016, CCT began the latter pilot. In recent years, based on the market-oriented principles, CCT has been continuously exploring and promoting the restructuring of state-owned assets and the management of capital operations to make every effort to build a market-oriented and professional state-owned capital operation platform and enhance the efficiency of state-owned capital operations, with remarkable results achieved.
Previously, SZSE and CCT have carried out a number of cooperation and achieved initial results. According to the agreement and based on the existing cooperation, the two parties will expand the partnership scope to span a number of areas such as listing cultivation, mergers and acquisitions, investing and financing matching-making, and product innovation. Moreover, the parties will put the optimization of the state-owned capital structure of central enterprises and the efficiency improvement of state-owned capital allocation and operation at the central and employ SZSE’s full-process and multi-dimension comprehensive services so as to help CCT make full use of the capital market platform to excel and jointly promote the construction of a market-oriented state-owned capital platform. At present, the two sides have set up special teams to work on this project.
In recent years, under the CSRC leadership, SZSE has been closely focusing on the fundamentals of serving the real economy to optimize market resource allocation, enhance market development quality, create a favorable market environment, serve the supply-side structural reform and support innovation-driven development strategies, thus facilitating the continuous deepening of SOE reforms. Up to now, SZSE has worked with more than 20 central enterprises such as China Merchants, China National Nuclear Corporation, CSIC, and CETC to carry out in-depth diversified service partnerships. Next, SZSE will fully implement the spirit of the 19th CPC National Congress, follow the guide of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and put new development concepts into practice. Based on that move, SZSE will carry out more targeted special activities on the capital operations of central enterprises and improve the service support for the mixed ownership reform of state-owned assets and SOEs, M&A restructuring and refinancing, bond financing and asset securitization to push the state-owned assets and SOE reforms to a greater depth and power the quality, efficiency, and driver reforms for economic development.
