The SSE Holds a Special Training Course for Institutional Investors and Updates the List of Co-signing Institutions for the "Three Investments" Proposal

From January 16 to 17, the Shanghai Stock Exchange (SSE), together with the Shanghai Asset Management Association (SAMA), held the first special training course for institutional investors in 2025 on the SSE and updated and released the list of co-signing institutions of the Proposal for Rational Investment, Value Investment, and Long-term Investment in the Capital Market. Through special training and further expanding the co-signing scope of the Proposal, SSE aims to guide institutional investors to practice the "Three Investments" concept and implement the memorandum arrangements by the China Securities Regulatory Commission (CSRC) and the Shanghai Municipal People's Government regarding the cooperation mechanism for capital market's support for accelerating the construction of the "Five Centers" in Shanghai. The Shanghai Office of CSRC participated in the preparation of the special training course as a supporting unit. Eighty-one senior and mid-level managers from member institutions of the SAMA participated in the training course, with the types of institutions covering bank wealth management, securities asset management, public and private equity funds, insurance asset management, trust institutions, and industrial funds, among others.

Yuan Duoran, a member of the SSE Party Committee, said at the opening ceremony of the special training course that the CPC Central Committee, the State Council, and CSRC attach great importance to the "Three Investments" concept, investment reform, and institutional investor development. Yuan hoped that institutional investors would make full use of the index investment tools of the SSE at the investment side to help investors realize wealth effect in a more inclusive, transparent, convenient, and low-cost way; assist in improving the quality and investment value of listed companies at the financing side, serve industrial M&A and reorganization, optimal allocation of resources and development of new quality productive forces, and share the ideal returns created by SSE-listed companies with long-term companionship and patience; be responsible for investor suitability management, fulfill fiduciary responsibilities,exclude the impulses of scale, prevent conflicts of interest, strengthen investor service and protection, and jointly maintain a good ecosystem in the capital market at the service end.

Jia Biao, President of the SAMA, said that SSE issued the updated Proposal for Rational Investment, Value Investment, and Long-term Investment in the Capital Market in May 2024 and SAMA immediately joined it with all its members and organized asset management institution members to carry out excellent practice demonstration activities of practicing the "Three Investments" concept in Shanghai's asset management industry. The Regulations of Shanghai Municipality on Promoting the Construction of International Financial Center, revised and issued in August 2024, clearly proposes to cultivate and gather various asset management institutions to build a global asset management center. SAMA will work with all asset management members and industry institutions to adhere to the "Three Investments" concept and make new contributions to better promote the high-quality development of Shanghai's asset management industry, serve the stable operation of the capital market, and accelerate the construction of Shanghai international financial center and global asset management center. This training course scheduled 10 thematic lectures on 8 topics over the two-day training period. Among these, there was a special study on the spirit of the 20th CPC Central Committee's Third Plenary Session, coupled with discussions based on the realities of the capital market, with lectures given by experts from the Shanghai Party Institute of CPC and the China Institute of Finance and Capital Markets. Experts from the Department of Fund and Intermediary Supervision of the CSRC provided interpretations of the Guiding Opinions on Promoting the Entry of Medium- and Long-Term Funds into the Market which was jointly issued by the General Office of the Central Financial Commission and the CSRC. For the topic of macroeconomic analysis, chief economists from securities firms were arranged to give lectures. To highlight cutting-edge practices, several industry sharing sessions were organized on topics such as AI-enabled asset management and the establishment of long-cycle assessment mechanisms by asset management institutions. In addition, relevant departments of the SSE conducted special lectures on M&A and reorganization, transaction supervision, and index-based investment.

Based on the training, the SSE updated the list of co-signing institutions for the "Three Investments" Proposal. Up to now, the Proposal has been co-signed by more than 450 institutions. The newly released list of co-signing institutions of the Proposal mainly attracts relevant members of the SAMA. The types of the new co-signing institutions cover various fields related to the asset management industry, such as bank wealth management, trust, insurance asset management, securities firm asset management, public funds, private funds, foreign asset management, commercial banks, fintech, accounting firms, and law firms. In the future, the SSE will continuously track and evaluate co-signing institutions' implementation of the Proposal and regularly update the list of co-signing institutions each year based on their implementation effects of the spirit of the Proposal, achieving institutions' orderly participation in or withdrawal from the initiative.

Recently, the SSE just approved the Work Plan for Strengthening and Improving Institutional Investor Services, which includes specialized training for institutional investor management personnel as a key task established by the plan. In the next step, the SSE will thoroughly implement the spirit of the 20th CPC Central Committee's Third Plenary Session and the Central Financial Work Conference, implement the deployment requirements of the State Council's Guideline on Strengthening Supervision, Forestalling Risks and Promoting High-Quality Development of the Capital Market, and continue to carry out special training for institutional investor management personnel in central cities across China. Meanwhile, the SSE will thoroughly implement the Guiding Opinions on Promoting the Entry of Medium- and Long-Term Funds into the Market and the Implementation Plan for Promoting Medium and Long-term Capital into the Market, guide institutional investors to enhance their capacity for equity allocation of medium- and long-term funds, better practice the concepts of long-term investment, value investment, and rational investment, and achieve a virtuous cycle of preserving and increasing the value of medium- and long-term funds, maintaining stable and healthy operations of the capital market, and fostering the beneficial cycle of the real economy's high-quality development.