On June 1, the CPC SZSE Committee held the (enlarged) meeting of the CPC SZSE Committee, which faithfully conveyed and studied the guiding principles of General Secretary Xi Jinping’s speeches during the Two Sessions and of the Two Sessions and laid down arrangements for implementing relevant work. SZSE leadership members and persons in charge of SZSE departments and subordinate companies attended the meeting.
At the meeting, it was pointed out that this year’s Two Sessions was an important meeting held against the special backdrop that China has made major strategic achievements in its response to COVID-19 and that the international situation was undergoing profound changes. General Secretary Xi Jinping attended panel discussions four times during the Two Sessions and gave serial important speeches centering on applying the people-centered development philosophy, grasping the current economic situation and enhancing the public health system development. His speeches showed great foresight, profound thinking and rich content, providing basic guide for implementing the guiding principles of the Two Sessions and the work at present and for some time to come by the Party and the whole country. It was believed at the meeting that the Report on the Work of the Government delivered by Premier Li Keqiang was comprehensive, objective, topic-prominent, concise and down-to-earth, set out specific arrangements for combating COVID-19 and promoting economic and social development, and clearly stated that China would "reform the ChiNext Board and carry out the pilot project of the registration-based IPO system" and "support enterprises in increasing bond financing". That has indicated the direction for deepening the reform of the capital market, given play to the functions of the capital market and promoted high-quality economic development.
At the meeting, it was pointed out that the Civil Code of the People’s Republic of China is a major achievement in building a rule of law country with Chinese characteristics in the new era, has fully reflected the resolve of the CPC Central Committee with Comrade Xi Jinping at its core to promote comprehensive law-based governance and is of great significance to develop socialist market economy, safeguard the people’s rights and interests and advance modernization of the national governance system and governance capability. The Civil Code further refines the property rights system, regulates market transaction order and stabilizes expectations of market players, laying a solid rule of law foundation to fulfill self-regulation duties, maintain market operation order and better serve the real economy. It was emphasized that SZSE firmly supported the decisions of the National People’s Congress regarding Hong Kong and will, according to the unified deployment of the China Securities Regulatory Commission (CSRC), deepen cooperation with the Hong Kong capital market to jointly foster stable, healthy development of the capital market in Mainland China and Hong Kong.
At the meeting, it was also pointed out that the year 2020 is the final year to complete the building of a moderately prosperous society in all aspects, accomplish the targets and tasks for winning the battle against poverty and conclude the 13th Five-year Plan. SZSE should fully implement the guiding principles embodied in General Secretary Xi Jinping’s important speeches during the Two Sessions; strengthen the consciousness of the need to maintain political integrity, think in big-picture terms, follow the leadership core, and keep in alignment with the central Party leadership; stay confident in the path, theory, system, and culture of socialism with Chinese characteristics; and uphold General Secretary Xi Jinping’s core position on the Party Central Committee and in the Party as a whole, and uphold the Party Central Committee’s authority and its centralized, unified leadership. Also, SZSE should view the current economic situation from a comprehensive, dialectical and long-term perspective; strive to create new opportunities in a time of crisis and open up new situations amid changes; and do well in own work centering on the tasks of ensuring stability on six fronts and maintaining security in six areas. SZSE will give priority to stability and pursue progress while ensuring stability, better implementing the reform blueprint drawn by the CPC Central Committee, develop excellent reform projects and better serve the economic and social development.
First, SZSE will complete with high quality the reform of the ChiNext Board and piloting the registration-based IPO system. SZSE will release and implement supporting rules and regulations, carry out transition work of enterprises under review and declaration work of enterprises planning to get listed in a stable, orderly manner. We will steadily advance total market technology preparations, conscientiously respond to and evaluate risks, and promote the building of the clean governance system. We will also ensure steady implementation of the reform, and effectively enhance market players’ sense of gain from the reform. Second, SZSE will increase support to the real economy. We will make every endeavor to provide quality capital market services to market players, enhance support to key areas, key industries and key enterprises, and give full play to the advantages of SZSE in the bond market. Besides, we will support enterprises in increasing bond financing, make solid progress in piloting infrastructure public offering REITs, and continue to "transfuse blood" to restore economic operation. Third, SZSE will actively integrate in the development of the Guangdong-Hong Kong-Macao Greater Bay Area and the building of a demonstration pilot zone for socialism with Chinese characteristics. We will actively advance the development of the bond platform and the intellectual property and technology achievement property rights trading center in the Greater Bay Area, enrich derivative products at SZSE, continue to refine the connectivity mechanism, and steadily promote higher-standard opening up. Fourth, SZSE will continue to improve governance and regulation capabilities based on the rule of law. We will fully implement the new Securities Law, properly align rules and make adaptive revisions to regulations, and enhance punishment on violations to effectively safeguard investors’ legal rights and interests. SZSE will also forestall and defuse risks in key areas, maintain stable market operation and hold fast to the bottom line of risks to prevent systematic risk.