Just as the waters flow from the Huangpu River to the East Sea and the wider ocean, new life is being breathed into the Shanghai Stock Exchange, ushering a new course in the development of the domestic capital market as we reach out to the wider world.
Under the direction of the CPC Central Committee, the State Council and the CSRC CPC Committee, we continue to adhere to our mission of global integration through our core values of “efficiency, transparency,stability, service, progress and devotion”. Based in China's window to the world – Shanghai, we play an irreplaceable role in promoting capital formation, optimizing resource allocation, building a modern corporate system and propelling economic restructuring to ensure the sound and rapid development of the Chinese economy. As an exchange, we strive to lead the world with cutting-edge technology, operation efficiency, sophisticated structure and functions, diverse product portfolio, transparency and effective regulatory measures.
This new era propels the Shanghai Stock Exchange forward and provides a unique opportunity to serve the real economy, to prevent and control financial risk and to consolidate financial reform. Through our renewed sense of mission, we shall ensure that we continue to even greater heights of development.
Nevertheless, as we continue to grow, we will not stray from our core visions of serving the real economy as well as planning and coordinating the development of the stock, bond, fund and derivatives markets. We shall also continue to reinforce the blue-chip market and improve the inclusiveness and capacity of the Main Board market, and lend our full support to the national strategies of innovation-driven development and supply-side structural reform. We shall continue to provide a variety of direct financing tools and to raise the proportion of direct financing, thereby ensuring a stronger capital market platform for listed companies to grow and reach their full potential.
As we move forward, the Exchange will continue to act as a safeguard for risk prevention and control as well as strengthen its role in front-line regulation. Through information disclosure, we shall also reinforce the regulation of listed companies. We shall continue to promote self-regulatory supervision centered around regulatory members. Market oversight shall be improved through the real-time monitoring of abnormal stock trading. We shall also reinforce the prompt investigation and alert of major systemic risks in addition to increase investor awareness and protection, thereby ensuring capital market stability.
As an exchange between China's and the international capital markets, we shall continue to develop as a world-leading platform, in influence, scale and liquidity, for investment and asset allocation and management. We shall continue to offer our support to the Belt and Road Initiative, the development of international financing and investment instruments, and the global economy as a whole to become one of the world's leading financing centers. This we shall achieve by increasing our core competitiveness, actively engaging in the governance of global exchange industry and increasing our influence as an international exchange.
On 5 November 2018, President Xi Jingping announced at the opening ceremony of the first China International Import Expo that the Science and Technology Innovation Board will be launched and the Registration-based IPO System will be piloted on the Shanghai Stock Exchange, which embarked on the reform and innovative development of the exchange. With a pressing sense of urgency and strong sense of responsibility, with resources and efforts of the entire exchange, we shall enhance inclusiveness of the capital market for innovative tech companies, support critical core technology innovations, stably pilot the Registration-based IPO System, and promote reforms on fundamental rules concerning issuance, listing,information disclosure, trading and delisting, so as to establish a sound, transparent, open, energetic and resilient exchange market.
With Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era as our guiding principle, we ask you all to join together to realize this vision of a new era of serving both the economy and our society for the prosperity and security of all.
Party Secretary, Chairman of Board of Governors