SZSE recently formulated the List of Self-discipline Regulation Items and the List of Market Service Items and released them to the public. It is another important measure of SZSE to conscientiously carry out the requirements of the new Securities Law, deepen reforms to streamline administration and delegate power, improve regulation, and upgrade services, and improve transparency of regulation and services.
SZSE has always been attaching great importance to and doing things strictly according to laws and regulations and the principle of transparency. Since 2004, SZSE has overhauled and announced review and registration items for five times, which has played an active role in standardizing exercise of powers and improve service convenience. Following the idea of rule of law of promoting the registration-based IPO system across the board, the new Securities Law, which was released this year after revision, has enriched the functions of exchanges in such links as securities issuance and listing review, securities market organization, securities trading and delisting, and raised higher requirements on duty performance of exchanges. In the formulation of the Lists, SZSE, closely following the new situations and the new requirements and sticking to the principle of basing on facts, comprehensively sorted and scientifically categorized the exchange's functional items such as self-discipline regulation and market service, laying a solid foundation for the exchange to improve regulation and optimize services.
The Lists contain 40 items, including 15 self-discipline items in five categories, namely, securities issuance and listing regulation, continuous securities regulation, transaction regulation, member regulation, and self-discipline management and internal relief, and 25 market service items in six categories, namely, securities issuance and listing service, listed company service, transaction service, membership service, option and fund service, and investor service.
Implement the new Securities Law and form a “full-caliber” list of job duties
With the reform to introduce the registration-based IPO system as the main task, the Lists have, according to the new Securities Law, supplemented and improved such functions as review for stock issuance and listing on the ChiNext Board and issuance and underwriting regulation, reflecting the exchange's responsibility positioning under the new situation. In addition to the items that need to be applied by market entities, the Lists have included the exchange's proactive duty performance acts such as continuous information disclosure regulation, transaction regulation and taking regulatory measures, laid down main bases of rules, presented the exchange's job responsibilities panoramically to eliminate the “pocket policy” and stabilize market expectations. Market entities can check the full Lists in the “Rules” section on the official website of SZSE. Later, SZSE will dynamically update and maintain the content of the Lists according to the progress of major reform tasks and changes in business development.
Highlight “service orientation” and effectively enhance market entities' sense of gain
Based on market demand, SZSE further played its role as a hub and enriched service items, such as market cultivation service, online voting service and trading information service, and formed a list of diversified services for companies planning to get listed, listed companies, members and investors. In the meantime, SZSE optimized relevant service handling standards and procedures to better serve market entities. Regarding the service item on assisting in law enforcement in the Lists, SZSE issued the Guidelines for Assisting in Law Enforcement simultaneously, which specifies the scope, documentary materials, working process, etc. for assisting in law enforcement. Later, based on the content of the Lists, SZSE will promptly prepare and release an easy-to-operate “one-stop” service guide with unified format and post them all in one special section on the official website of SZSE, so that market entities can find them conveniently and get their things done clearly and quickly.
Improving regulation and services is an ongoing process and we will never stop. SZSE will, taking the deepened implementation of the new Securities Law as the opportunity, put in place the principles of “building systems, no intervention and zero tolerance”, stick to the market-oriented, rule-of-law-based direction, and improve the basic systems for the capital market. We will optimize regulatory concepts, enhance the awareness of active service, make achievements while ensuring “transparency”, and win the trust of market participants with transparent standards. We will also build a predictable market environment with a clean style of work, continue to improve the efficiency of governance of the capital market, strive to build a quality innovation capital center and world-class exchange, and better serve overall economic and social development.