The 9th general meeting of the Shanghai Stock Exchange (SSE) was held recently. Convened in an off-site manner, the meeting deliberated on the 2018 work report of the 4th SSE board of governors, the 2018 work report of the SSE president, the 2018 work report of the 2nd board of supervisors, the financial statement for 2018 and the financial budget report for 2019, as well as the proposal for putting off changing the terms of office of the incumbent members of the board of governors, the board of supervisors and the policy advisory committee. The works of the SSE since the beginning of this year was also reported on the meeting. The representatives of 116 members voted on the above-mentioned reports and proposal through the online system.
Fully acknowledging the work of the SSE since 2018, attendees of the general assembly unanimously held that in the face of the complex situations and arduous reform tasks, the SSE is always capable of maintaining strategic concentration. It focuses on the reforms of launching the SSE STAR Market and piloting the registration-based IPO system, advances its development oriented toward the market, rule of law and internationalization in a coordinated manner, firmly defend the bottom line of safe operation, and make effective efforts in frontline regulation, market construction, international development, RegTech, public opinion guidance, investor education, etc., and has made new progress in building a world-leading stock exchange with international influence.
The meeting stressed that China's capital market is currently at a crucial stage of strategic opportunities. The SSE should adhere to the guidance of Xi Jinping’s Thought on the Socialism with Chinese Characteristics for the New Era and the requirements of the 19th CPC National Congress, thoroughly implement the decisions and planning of the Party Central Committee and the State Council, focus on the unified arrangements of the Party committee of the China Securities Regulatory Commission (the CSRC), stick to the work philosophy of "four awes (stand in awe of the market, rule of law, expertise and risks) and one synergy (The capital market’s development needs all the efforts made by all sides)", comprehensively carry out the key tasks of deepening the reform of the capital market, take the launch of the SSE STAR Market and the pilot program of the registration-based IPO system as a breakthrough point, coordinate the efforts in market construction, frontline regulation, risk prevention and mitigation and other areas, and strive to build a regulated, transparent, open, dynamic and resilient exchange market, so as to celebrate the 70th anniversary of the founding of the People's Republic of China with outstanding achievements.