SSE Holds 2021 Forum for Equity Investment Institutions

Representatives of 43 equity investment institutions and 17 securities companies attended the 2021 Forum for Equity Investment Institutions held recently by the Shanghai Stock Exchange (SSE). Also present at the forum were officials in charge of relevant business at the Department of Public Offering Supervision of the China Securities Regulatory Commission (CSRC) and the Asset Management Association of China.

At the meeting, the SSE briefed the equity investment institutions and the securities companies on the efforts made by the SSE STAR Market in developing and serving the “key and core technology”. Participants at the meeting exchanged views on optimizing and perfecting information disclosure for the SSE STAR Market, judging the “key and core” scientific and technological attributes, listing red-chip enterprises, and pricing new shares. Meanwhile, the participants put forward constructive suggestions on how to jointly cultivate and support the enterprises of “key and core technology” that are of great significance to China’s strategic scientific and technological strength, and how to further improve the construction of the SSE STAR Market and the registration-based IPO reform. The representatives of the securities companies present at the meeting also shared their experience and practices of high-quality application under the registration-based IPO reform.

An SSE official in charge of the relevant business said that propelling scientific and technological innovation is an important mission for the capital market in the new development stage, with the new development philosophy and paradigm, especially for the SSE STAR Market. For more than two years, in accordance with the strategic deployment of the CPC Central Committee and the State Council, and under the firm leadership of the CSRC, the construction of the SSE STAR Market has been steadily advanced, with stable and orderly market operation overall and acting well as an “experimental field” for the registration-based IPO reform. Equity investment institutions are important participants in the high-standard circulation of technology, capital and industry. Since the launch of the SSE STAR Market, equity investment institutions have increasingly geared their investments toward supporting the growth-oriented enterprises characterized by key and core technology. The 4 forums for equity investment institutions, held consecutively by the SSE since 2019, set up a platform for the SSE and equity investment institutions to continuously strengthen interaction and forge synergy, and the forum has also served as a mechanism that facilitates the efforts of both sides in jointly pushing forward market construction and constantly making new progress. It is hoped that in addition to taking full advantage of the SSE STAR Market, the main battlefield where the capital market boosts sci-tech innovation, equity investment institutions could strengthen cooperation with the SSE in the research on the “key and core technology” industries, thus actively discovering, cultivating and supporting the enterprises characterized by “key and core technology”. It is also hoped that equity investment institutions and securities companies could effectively serve as the “guide” and “gatekeeper” for enterprises to access the capital market by looking at the big picture and continuously raising the awareness of quality, and together support technology and innovation enterprises to become better and stronger.

Going forward, the SSE will continue to thoroughly study and implement General Secretary Xi Jinping’s important remarks on the capital market and fully carry out the instructions of the Party Committee of the CSRC. Meanwhile, it will adhere to the positioning of the SSE STAR Market as supporting the “key and core technology”, and vigorously advocate the high-quality application by prospective companies so as to make further progress in improving the quality of the SSE-listed companies. The SSE will also further strengthen the high-standard cooperation with equity investment institutions and securities companies, give full play to the advantages of the platform and expertise, and serve the national strategy of innovation-driven development with the high-quality development of the capital market.