Economics and Reforms

On July 22, the listing ceremony of the first batch of companies on the SSE STAR Market is held in Shanghai.

Li Qiang, Party Chief of Shanghai, and Yi Huiman, Chairman of the China Securities Regulatory Commission (CSRC) stroke the gong for the listing. More than 600 attendees including senior officials from Beijing, Shanghai, Heilongjiang, Jiangsu, Zhejiang, Fujian, Shandong, Guangdong, and Shaanxi provinces, board chairpersons of the first batch of listed companies, and representatives from the CSRC agencies and the units in the CSRC system, market institutions, the Stock Listing Committee, Sci-tech Innovation Advisory Committee, Public Offering Self-discipline Committee for the SSE STAR Market as well as news media witnessed the ceremony.

Ying Yong, Mayor of Shanghai, Li Chao, Vice Chairman of the CSRC, and Huang Hongyuan, Chairman of the Shanghai Stock Exchange (SSE) delivered speeches respectively on the ceremony. Yin Zhiyao, Board Chair of Advanced Micro-Fabrication Equipment Inc. China (AMEC), Wang Changqing, Board Chair of China Securities Co., Ltd., and Liu Zhongyuan, Director of the Securities Investment Department of the National Council for Social Security Fund, P.R.C gave speeches on behalf of the first batch of listed companies, the sponsors and the institutional investors.

The listing of the first batch of companies on the SSE STAR Market marks the official opening of the SSE STAR Market and the launch of the pilot registration-based IPO system, a major reform task. Going forward, the SSE will stay true to the original objective, adhere to the missions, and implement the major decisions made by the CPC Central Committee and the State Council. Under the leadership of the CSRC, it will, together with all the market participants, stick to market-oriented reform with the rule of law, learn from the best international practices, follow the idea of “the four awes (stand in awe of the market, rule of law, professionalism and risks) and one joint force (The capital market's development needs all the efforts made by all sides)”, continuously propel the reform on setting up the SSE STAR Market and piloting the registration-based IPO system, and make greater contribution to comprehensively advancing the reform of the capital market, better serving the innovation-driven development strategy and the high-quality economic growth, and supporting the construction of building Shanghai into an international financial center and a sci-tech innovation center.