The FINANCIAL — Shenzhen Stock Exchange (SZSE) and China Resources (Holdings) Co., Ltd. (CR) signed a strategic cooperation framework agreement. The two parties had in-depth discussions on the capital market’s support for the reforms of state-owned assets and state-owned enterprises, accelerating the integration into the new “dual circulation” development pattern, improving systems and mechanisms for integrated development of innovation chain and industrial chain, serving the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and the Shenzhen pilot demonstration area of socialism with Chinese characteristics, etc. Those who attended relevant activities included SZSE Party Secretary and Chairman Wang Jianjun and CR Chairman Wang Xiangming.
CR is a Hong Kong-registered large key state-owned enterprise directly under the central government. Engaged in five major business fields, namely, consumer products, healthcare, urban construction and operation, energy services, and technology and finance, CR has set up seven strategic business units: consumer products, electricity, real estate, cement, gas, pharmaceuticals and finance. Driven by the twin engines of “industrial development + capital operation”, CR leverages its advantages as a diversified enterprise to strive to build itself into a “world-class enterprise” with international competitiveness. Currently, two of CR subsidiaries are listed on SZSE, and six of its holding companies have declared CNY 62.3 billion fixed-income products at SZSE.
Adhering to serving national development strategies and overall economic and social development, SZSE has, centering closely on promoting high-quality development and forming the new development pattern, improved basic systems, diversified product supply, upgraded market cultivation, assisted more central SOEs’ assets in using the capital market to become better and stronger, and better served the reforms of state-owned assets and state-owned enterprises and innovation of investment and financing systems and mechanisms. As at the end of September, SZSE carried out diversified connection activities with 68 central SOEs, of which 23 established strategic cooperation relationship with SZSE.
According to the agreement, SZSE and CR will seize the great historical opportunity of the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and the Shenzhen pilot demonstration area of socialism with Chinese characteristics to deepen cooperation in listed enterprise cultivation and capital operation, expansion of diversified financing channels, connection of industry and finance platforms, information communication, training & consulting, etc. to give full play to the role of the capital market as a hub and the innovation capital formation function. The parties will also conscientiously put in place the Three-year Action Plan for SOE Reform, continue to strengthen coordination of innovation resources, and jointly build a model of innovation of investment and financing systems.
Next, SZSE will study in depth and put in place the guiding principles of General Secretary Xi Jinping’s important speech at the celebration of the 40th anniversary of the establishment of the Shenzhen Special Economic Zone. Taking the reform of the ChiNext Board and the pilot project of the registration-based IPO system as the opportunity, SZSE will advance in depth the major task of deepening the reform of the capital market on all sides and the list of first batch of authorized items for the pilot demonstration area, and apply the concept of building a pilot demonstration area and the requirements of the pilot project in every aspect of work. SZSE will support the listing and development of quality companies including SOEs and central SOEs, enhance the comprehensive effectiveness of the reform of SOEs, and facilitate high-level circulation of technology, capital and the real economy. SZSE will go all out to build itself into a quality innovation capital center and world-class exchange and strive to make greater contributions to the construction of the Guangdong-Hong Kong-Macao Greater Bay Area and the Shenzhen pilot demonstration area of socialism with Chinese characteristics.