SSE Convenes 11th General Meeting

The 11th General Meeting of the Shanghai Stock Exchange (SSE) opened on June 22 and will last for 5 days. The general meeting, serving as a major mechanism and platform for continuously improving the governance structure and enhancing the synergy of members, features an efficient mode of online sessions, which is not only an effective measure to integrate the requirements for epidemic prevention and control, but also a move to guarantee the members’ exercise of their rights and forge synergy for joint governance of the exchange. The meeting will focus on reviewing the work reports of the board of governors, the president, and the board of supervisors of the SSE for 2020, as well as the financial budget and final account reports. The representatives of the member institutions can review documents, vote, and give feedback through the “11th General Meeting” column of the member business section on the official SSE website.

Since 2020, thanks to the correct leadership of the CPC Committee of the China Securities Regulatory Commission (CSRC) and the strong support from all members, the SSE has firmly implemented the major decisions and deployments of the CPC Central Committee and the State Council, and has more actively integrated its work into the development of the capital market and the overall economic and social development. The SSE adheres to the working guidelines of “building the system, non-intervention, and zero tolerance”, and the regulatory concept of “standing in awe of market, rule of law, expertise and investors, and forging synergy in comprehensive support for reform, development and stability of the capital market”. The SSE has strengthened the Party’s leadership of the exchange in an all-round manner, further optimized the system of rules for law-based governance of the market and the exchange, strongly pushed forward the construction of the STAR Market and the reform of the registration-based IPO system, serving the real economy and the national strategies, consolidating market supervision and risk prevention, and fulfilling social responsibilities. The SSE has enhanced its comprehensive strength and international competitiveness, and made more contribution to economic and social development. At the end of 2020, the SSE ranked the 3rd, 2nd and 4th in the world in terms of total market capitalization, amount of capital raised and turnover respectively. In particular, after nearly two years of development, the SSE STAR Market has effectively assumed the national mission of supporting technology and innovation, and has become the first choice for companies with real expertise in technology to go public. As of May 31, 2021, 282 companies were listed on the STAR Market, raising RMB360.5 billion at IPO, and the total market capitalization stood at RMB4.1 trillion.

The year 2021 marks an important historic milestone of the 100th anniversary of the founding of the CPC, the first year of the “14th Five-year Plan” period to start a new journey of building a modern socialist country in an all-round way, and a crucial year for thoroughly deepening the reform of the capital market. At this significant historical juncture, the SSE will, under the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, thoroughly implement the essence of the important speeches and instructions of General Secretary Xi Jinping on the capital market and the spirit of the Fifth Plenary Session of the 19th CPC Central Committee and the Central Conference on Economic Work. Only with the country’s top priorities in mind can we better build and develop the exchange, and we base our work on the synergy of the members. The SSE hopes to work with the members, and take the opportunity of the general meeting to more closely integrate the strengthening of the CPC’s leadership and the improvement of the exchange’s internal governance, the exchange’s major development opportunities and important historical missions, and the improvement, development and accountability of the industry. In addition, the SSE will have a deeper understanding of the new development stage, fully implement the requirements of the new development philosophy, and carry out the decisions and deployments in forming a new development paradigm. In accordance with the deployments and requirements of the CSRC, the SSE will join hands with all members to extensively forge synergy in the market, vigorously boost the high-quality development of the exchange, and strive to make due contributions to building a regulated, transparent, open, dynamic and resilient capital market.