On October 31, at the 5th anniversary of the launch of the ChiNext Board, the founding meeting of Strategic Planning Committee under the Board of Shenzhen Stock Exchange (SZSE) was held in SZSE. On the meeting, the founding background of Strategic Planning Committee was introduced and the operating situation of the ChiNext Board during these five years since its establishment was presented. Cored with the subject of ‘Focusing on the Development of the ChiNext Board, Serving the Innovation Force Strategy’, committee members from securities companies, investment banks and fund companies of domestic and foreign markets emphasized on discussing topics of the ChiNext Board’s service to national Innovation Force Strategy, its catering for the strategic emerging industries, and market-oriented internationalized reform.
Excepted from Strategic Planning Committee, the Board of SZSE will further establish self-regulatory, innovation development committees. All together with the previous founded SME Cultivation and Development, Appeal and Review, Risk Management committees, there will be 6 special committees under Board of SZSE.
As currently the development of multi-layer capital market is on a critical strategic opportunity stage, and it has been explicitly put forward in the New National Nine that leading role of the stock exchange should be strengthened in the market, and orderly processing of major reform such as the transformation of supervisory role and registration system, and the exchange further promote the market-oriented internationalization, all market participants should be mobilized to improve the governing role of the Board of SZSE. Setting up special committees in the management structure is an established practice of exchanges in different countries to enhance the science of decision making and prevention of benefit conflict. As demonstrated by practice of SZSE in previous years, setting up special committees was an effective way of playing the role of the board. Improving the structure of special committees, building up multiple dimensionality of exchange and discussion platform that covers strategic planning, supervisory role transformation, innovative development and risk management, and building up an effective communicative bridge between the exchange and the major market participants, will be conducive for the exchange to foster a good external environment for its reform and development, enhance the transparence, containment and coverage of its management structure, and lay foundation for its exploration of further market-oriented reform.
