On March 16, the Shanghai Stock Exchange (SSE) held a symposium on the members’ preparations for launching theSci-TechInnovation Board and piloting the Registration-Based IPO System.Nearly 100principal heads of member units attended the event. Focusing on the preparations for launching theSci-TechInnovation Board and piloting the Registration-Based IPO System, the symposium briefed on the progress made in the preliminary work, listened to the opinions and suggestions of the member units, and especially put forward new requirements for tightening the responsibilities of the member units, making the market fully prepared, and preventing risks in particular. Also attending the symposium and making requirements for relevant work were the officials of the Institution Regulation Department of the China Securities Regulatory Commission (CSRC), the Securities Association ofChina (SAC), China Securities Depository and Clearing Corporation Limited (CSDC), and other related organizations.
Earlier, in order to thoroughly ensure the efficient and smooth advancement of developing theSci-TechInnovation Board and piloting the Registration-Based IPO System, the SSE established the command for the work headed by the leading officials of the SSE, with 11 working groups set up under the command, covering the mainwork lines such as issuance, review, trading, supervision, system and press release. At the symposium, the heads of the working groupsrespectively briefed the attendees on the latest progresses in the advancement,key arrangements and tasks in the next stage. Therepresentatives of themember units present at the symposium stated that they would earnestly seize the historical opportunities in the reform of the capital market, vigorously enhance their capacity for issuance pricing, sales, research and other businesses, recommend potential companies for listing in strict accordance with the purposes of the Sci-TechInnovation Board, and make effective efforts in all areas such as underwriting and sponsoring for the companies, authorizing the investors to trade, linking up the technical systems and the client trading management.
The SSE stressed that launching the Sci-TechInnovation Board and piloting the Registration-Based IPO System is a major event, and it is the toppriority to control and prevent risks in turning the major event into a productive one. It is important for the member units to strictly guarantee the work in seven areas, namely, authorization for trading, selection of companies, issuance pricing, application documents, regulation of trading in the early stage of listing, safe operation of the system and anti-corruption.In accordance with the basic requirements of “high standards, steady start, strict regulation and effective risk control”, the member unitswill work together to achieve success in all preparations for launching the Sci-TechInnovation Board and piloting the Registration-Based IPO System. It was hoped that the member units could join hands with the SSE to earnestly implement the major decisions and arrangements of the CPC Central Committee and the State Council for the capital market under the guidance of Xi Jinping’s Thought on Socialism with Chinese Characteristics for a New Era, and with the unified coordination of the CSRC, make concerted efforts on boosting the high-quality development of the capital market, so as to successfully accomplish the historical task of launchingtheSci-TechInnovation Board and piloting the Registration-Based IPO System.