A special signing ceremony was held on June 28 at the "origin" of China's capital market – Astor House Hotel beside Huangpu River. The Shanghai Stock Exchange (SSE) and Shanghai Securities News Agency (SSNA) are to carry out a comprehensive strategic cooperation to share resources and complement each other's advantages, keep enhancing the information service of the Chinese capital market, and assist the capital market in serving the real economy. The SSE and SSNA are of the same origin and now gather again after more than 20 years at Astor House Hotel, the former site of the SSE. Over the past 20 years, the capital market has undergone great changes, developing from the "test field" of the reform into the main battlefield of serving the real economy; and the number of companies in the Shanghai market has increased from the original 8 to the present over 1,400. Now, as the site of China Securities Museum, the Astor House Hotel has witnessed the new chapter of their joining hands to serve the real economy.
SSE Infonet Co., Ltd. (SSE Infonet), a wholly-owned subsidiary of the SSE, and Shanghai Securities Information Co., Ltd., a wholly-owned subsidiary of SSNA, will undertake the concrete tasks for this close cooperation as the main contract parties.
According to the agreement, the two parties will carry out comprehensive strategic cooperation to share resources and complement each other's advantages. In particular, they will further strengthen their interaction on the basis of their strategic cooperation partnership, deeply excavate potential demands, and give full play to their advantages to facilitate the protection on investors' legitimate rights and interests and better serve the real economy. To realize "win-win cooperation", they will cooperate in products and jointly promote them to the market while offering information service to listed companies, thus intensifying their market influence in securities information service. Besides, they will research to set up the standards for the securities information service, jointly conduct technical assessment, help securities companies to improve their system construction level and technical service capacity, and expand the service products to securities companies.
"The SSE and SSNA are of the same origin. Today, at the witness of Astor House Hotel, we are here to organize a signing ceremony for our deepened cooperation in information. Hope that our cooperation will write a new chapter while continuing our history," said Wan Dujuan, Chairman of SSE Infonet, in her speech.
She pointed out that the SSE has firmly grasped the favorable opportunities of the reform and development in the capital market this year. Guided by the spirits of the 19th CPC National Congress, the SSE will keep improving the front-line supervision of the market, enhance the quality of listed companies and strengthen the efforts on investor service while further preventing and controlling financial risks. The capital market cannot be developed without the support of information data service. With the in-depth application of such new technologies as big data and cloud computing, the quantity of information will kept growing and its channels will become increasingly diversified, which will bring about new opportunities and challenges.
She further noted that the SSE and SSNA, as well as the two information companies, are naturally bonded. The SSE has authoritative original data and SSNA has abundant professional information on finance and economics. They are obliged to jointly research the topic of how to make use of securities information to effectively serve the real economy and are confident in setting up the standards for the capital market information service and guiding the innovative development of the information service field.
Wan Dujuan stressed, "This strategic cooperation with concrete tasks and clear directions has been achieved without extra efforts. Next, SSE Infonet will arrange for senior staff to carry out cooperation with SSNA in terms of road show, product, data, brand and market influence. They will strive to make new achievements in these aspects and contribute to the development of the Chinese capital market."
"The SSE and SSNA are of long historical origin and their information companies have their unique advantages. Hope that their cooperation will open up a new situation for the information service in the capital market and make new progress to assist the high-quality development of listed companies and contribute to serving the real economy," said Zhang Xiaojun, Chairman of SSNA, in his speech.
He said that the macro economy is undergoing a conversion of old and new driving forces and the key words of the capital market have gradually changed from "high speed" to "high quality". Market participants mainly constituted by listed companies now have increasing requirements on information – more professional, refined and individualized, and the market information service should keep pace with their requirements. The SSNA's information company is an institute authorized by the SSNA to engage in its financial and economic information and an information company that was the first founded in the Chinese capital market and has extensive influence. It has taken roots in the market and followed the market trends, striving to become a top securities information provider in Shanghai's stock market and even the Chinese capital market.
"I believe that this cooperation will open up the development space of the SSNA's information company at the assistance of the authoritative platform of SSE Infonet and the two parties will improve the information service in the capital market, enhance the communication efficiency among all market participants, and do some practical deeds for serving the real economy," said Zhang Xiaojun.