Mr. Wu Lijun, former Assistant Chairman of the China Securities Regulatory Commission (CSRC), was appointed Secretary of the CPC SZSE Committee and nominated Board Chairman of the SZSE. Mr. Xiao Gang, Chairman of the CSRC, announced the appointment and nomination decision by the CPC Central Committee and the State Council at a general cadres’ meeting at the SZSE on September 1, 2014. Chairman Chen Dongzheng retired.
SZSE’s third Board of Directors convened its 43rd meeting and elected Mr. Wu Lijun as Board Chairman of the SZSE.
The leadership change indicated the great importance CPC Central Committee and the State Council have attached to China’s capital market and securities and futures regulatory system, said Xiao Gang in his speech.
He noted that as a platform for capital market resource allocation, stock exchanges should further broaden and deepen their service to the real economy. The SZSE should further expand the SME Board and accelerate reform in the ChiNext market.
Xiao Gang emphasized that as the reform of capital markets deepens, stock exchanges will take on more tasks. The SZSE should grasp the historical opportunity, shoulder heavy responsibilities, forge ahead, reform and innovate, prevent risks and take all its work to a new height. He hoped that the SZSE will make more contribution to economic and social development and the capital market’s growth and reform by improving internal management and strengthening market service.
In his speech, Wu Lijun said the SZSE is facing favorable opportunities for development. The SZSE should properly implement the Opinions for Further Promotion of the Capital Market Development by the State Council, consistently serve SMEs and strengthen listed companies, optimize and expand the SME Board and actively advance reforms in the ChiNext market. This is not only required by the CPC Central Committee and State Council, but also by future development of the exchange itself.
He noted that the stock exchange is at the center of public attention as it plays an important role in the operation, reform and development of the capital market and concerns the interests of investors. The SZSE should further heighten its sense of responsibility and plan its work in the backdrop of economic transition and supervisory transformation. It should proactively serve the national strategy of sustaining steady growth, adjusting economic structure, changing economic growth model, advancing reform, benefiting the people’s livelihood and actively serving the real economy. It should tap and give full play to its advantages, constantly broaden and deepen the scope of its service, innovate and diversify its service models and provide specialized professional services to SMEs, Internet and hi-tech firms and enterprises engaged in independent innovation.