The 10th SSE General Meeting Held Successfully

 

 

On April 18, also the 30th anniversary of the development and opening up of Pudong New Area, the Shanghai Stock Exchange (SSE) successfully held the tenth general meeting. The meeting was convened by the SSE Board of Governors. Li Chao, vice chairman of the China Securities Regulatory Commission (CSRC), delivered a video speech to the meeting. Huang Hongyuan, Party Chief and Chairman of the SSE, presided over the meeting. Attending the meeting were the representatives of 120 members and special members of the SSE, officials of relevant CSRC departments, members of the leadership of the SSE and heads of relevant SSE departments.

While strictly implementing the requirements for epidemic prevention and control, the meeting successfully realized the virtual participation and online voting of more than 100 attendees by video, thus effectively guaranteeing the rights of the member units to take an active part in exchange governance and jointly mull over the development of the capital market. The meeting reviewed and approved the work Report of the Fourth SSE Board of Governors, the 2019 Work Report of the president, the Work Report of the Second Board of Supervisors, the financial statements for 2019 and the financial budget report for 2020, and deliberated on and approved the “SSE Bylaws (Draft Amended in 2020)” revised to implement the requirements of the new “Securities Law”. The meeting also elected the members of the fifth Board of Governors, the members of the third Board of Supervisors and the members of the Policy Advisory Committee of Board of Governors. The successful convening of the meeting symbolizes the SSE's adherence to the founding mission and review and respect for the past hard work, and reflects the confidence and determination of the SSE and all its members in seizing the opportunities to serve the national strategies in the future and devote themselves to strengthening reforms of the capital market in an all-round manner.

In his speech, Li Chao, vice chairman of the CSRC, fully recognized the efforts and hard work of the SSE and its members since last year in establishing the Science and Technology Innovation Board (the SSE STAR Market) and smoothly piloting the registration-based IPO system, improving the support of the capital market for science and technology innovation, and other areas. He said that exchanges are the central link in the operation of the capital market. Under the new circumstances, the SSE should resolutely implement the decisions and deployments of the CCP Central Committee and the State Council on epidemic prevention and control and resumption of work and production, focus on the three major tasks of serving the real economy, preventing and controlling financial risks and deepening financial reform, live up to its responsibility, take a proactive approach, highlight its role in supporting real economy recovery and development, and always integrate the construction and expansion of the exchange into the overall growth of the capital market and the general economic and social development. Exchange members are the backbone for the reform, development and stability of the capital market, as well as an important shaper of the market ecology. Comprehensively deepening the reform of the capital market and optimizing the development environment of the industry call for the joint efforts of the entire sector. It is hoped that all members could focus on their main business, compliance, innovation and prudence, sharpen their “inner capabilities", improve their capacity for professional services, and enhance their core competitiveness; the members should effectively serve as the "gatekeeper" in the capital market, improve their expertise and professional integrity, earnestly fulfill the responsibilities of an intermediary, and strictly prevent fake issuance and financial fraud; the members should implement the work outline for cultural construction in the securities and fund industry, accelerate the development of the industry culture, and ensure clean and honest practice, so as to enhance the image of the industry.