The Shanghai Stock Exchange (SSE) immediately launched an emergency scheme at 8:45 a.m. after the earthquake strike in Lushan County, Sichuan Province on April 20. As required by the scheme, the SSE’s personnel related to listed company regulation, member service, technical support and communication guarantee earnestly fulfilled their duties, paid high attention to the development of the earthquake and organized a donation activity for the quake-stricken areas.
According to the deployment on earthquake relief made by the China Securities Regulatory Commission (CSRC), the SSE worked out its emergency working principles as follows. First, everyone should seriously fulfill his or her duty. That is, efforts should be made to promptly contact with the local listed companies and help them disclose information about the disaster’s impact by attaching importance to assisting investors in timely grasping the production and operation of the listed companies in the quake-stricken areas and ensuring the steady operation of the market. Second, endeavors should be made to send help, instead of making messes and adding burdens to the quake-stricken areas. Under the precondition of adding few communication and labor burdens to the quake-stricken areas, the information communication mechanism of the securities regulatory system and the cooperative regulation mechanism with the CSRC Sichuan Branch should be used to get a better knowledge of the disaster’s impact on local areas and the specific difficulties, before effectively participating in the earthquake relief. Third, everyone should make preparations and act at any given moment. The emergency response level should be elevated. Besides, a trans-department technical rescue team will be established to prepare for emergency service as well as technology and communication support, with an aim of immediately sending the service, support, and assistance in case of receiving the request from the quake-stricken areas.
It is learnt that after the launch of the emergency scheme, the SSE made the first call to a secretary to the directorate of a listed company based in Sichuan at 9:00 a.m. on April 20. In order not to occupy telecommunication resources which are essential in disaster relief in the quake-stricken areas, the regulatory staff sent questions to the companies by Weixin, SMS, and other communication tools in their regulatory work so that the inquirees could reply at a proper time. As of the morning on April 21, the SSE had contact with all the 36 Sichuan-based companies listed on it and helped them make timely announcements on the impact of the quake disaster on their production and operation.
Upon efforts, all the 36 companies released the impact of the quake on their companies on April 21. Specifically, four companies suffered slight losses, and the rest were not affected by the earthquake. On April 22, trading of the 36 companies was on a normal track. Moreover, the SSE started to check other listed companies with major production and operation projects in Sichuan, with the details to be announced as soon as possible.
Meanwhile, the SSE established a hotline for emergency contact with the on-duty office of the CSRC Sichuan Branch, so as to get a timely understanding of the conditions of the securities business organizations in quake-hit Sichuan. The SSE is ready to help them carry out rush repair for post-disaster reconstruction and resumption of securities trading. In light of the current circumstances, the operation of the securities business organizations in Sichuan is normal on the whole.
All the SSE’s employees cared much about the disaster-hit areas. In these two days, they were highly concerned about the quake-stricken areas, prayed for Lushan County and cheered up Ya’an City in their Weixin group and QQ group. They discussed the issue of helping the quake-stricken areas and sending blessings to them, and organized a donation activity. The SSE said that it would, with its loving care and in response to the state’s call, support earthquake relief and post-quake reconstruction, and overcome all the difficulties together with the masses in the quake-stricken areas.
FTSE Mondo Visione Exchanges Index:
Shanghai Stock Exchange Rushes Into Earthquake Relief
Date 23/04/2013