Shenzhen Stock Exchange Deepens Comprehensive Strategic Cooperation with Zhejiang Province for Empowering the Implementation of "Zhejiang's Strategy of Eight Superiorities"

Date: 2024-03-26

On the afternoon of March 23, Shenzhen Stock Exchange (SZSE) and the Zhejiang Provincial People's Government signed a comprehensive strategic cooperation agreement to empower the implementation of "Zhejiang's Strategy of Eight Superiorities" and help Zhejiang strive to advance the "Two Priorities" and build itself into an "important window". This marks a concrete action for both sides to deeply implement the requirements of the important speeches and instructions by General Secretary Xi Jinping during his inspection of Zhejiang, to implement the spirit of the Central Financial Work Conference, and to promote the high-quality development of financial services and economy and society.


SZSE has always attached great importance to nurturing and serving the capital market in Zhejiang and has maintained close communication and cooperation with the provincial government for a long time. First, we have actively aligned with "Phoenix Action" program and tailored "Wutong Project" and "Tonglin Project" for Zhejiang, to facilitate the smooth circulation of industries, technology, and capital in Zhejiang. Second, we have jointly established the SZSE Zhejiang Service Base, focusing on key areas such as digital economy, high-end manufacturing, new energy, and new materials, and has served more than 1,000 pre-IPO enterprises in the province. Third, we have jointly built the "Zhejiang Enterprise Listing Integrated Service System" (Phoenix Cave), which centers around key objectives such as nurturing enterprise for listings and enhancing the quality of listed companies. The online system integrates various information resources from government departments, industry associations, financial institutions, intermediaries, and other stakeholders. It provides digital platform support for nurturing pre-IPO enterprises in Zhejiang and promoting the high-quality development of listed companies. Fourth, we have been supporting the high-quality development of state-owned assets and enterprises in Zhejiang. We have jointly organized the annual collective performance briefings for state-owned listed companies in Zhejiang to facilitate communication channels between provincial state-owned listed companies and the capital market investment bodies so as to enhance the value for state-owned enterprises in Zhejiang. Fifth, we have been jointly building a service ecology for the transformation of scientific and technological achievements in Zhejiang for smooth channels between technology and capital to enhance the transformation and industrialization of scientific and technological achievements in Zhejiang. Sixth, we are exploring with Zhejiang Province to establish a communication mechanism for risk prevention and resolution of listed companies. Through early intervention and coordinated efforts, we aim to jointly improve the quality of listed companies in Zhejiang.


SZSE will take this strategic cooperation as a new opportunity to focus on the theme of new quality productive forces and fully serve the high-quality development of Zhejiang. Firstly, we will jointly cultivate a group of high-quality enterprises, support the in-depth implementation of a new round of "Phoenix Action" plan, and optimize the "Phoenix Cave System" to help Zhejiang develop new quality productive forces based on local conditions and improve its modern industrial system. Secondly, we will jointly promote the strengthening and consolidation of local industrial chains to serve Zhejiang in the development of the "415X" advanced manufacturing cluster and the "315" scientific and technological innovation system and to support Zhejiang for faster cultivation of new driving forces and advantages. Thirdly, we will make good use of the bond market of SZSE, support the issuance of innovative products such as science and technology innovation bonds and intellectual property asset-backed securities (ABS), and strengthen the cultivation of public real estate investment trusts (REITs) so as to introduce more financial "liquidity" for the high-quality development of Zhejiang. Fourthly, we will jointly promote the deepening of a new round of reform for state-owned assets and enterprises, revitalize state-owned assets, unleash the vitality of state-owned enterprises and help state-owned listed companies in utilizing capital market tools effectively to enhance competitiveness and improve quality. Fifthly, we will jointly prevent and resolve local financial risks, strengthen information sharing and collaborative efforts in the supervision of listed companies and risk prevention and control of financial products to strengthen regulatory collaboration and optimize the financial ecology.


Next, SZSE will thoroughly study and implement the spirit of the 20th CPC National Congress and the Central Financial Work Conference. In accordance with the unified deployment of China Securities Regulatory Commission, we will firmly grasp the main lines of strengthening regulation, preventing risks, and promoting high-quality development. We will focus on advanced manufacturing, digital economy, green low-carbon and other key areas, improve market functions, enhance service levels, and continuously deepen the multi-level, all-round cooperation with Zhejiang to support its faster development of new quality productive forces and help Zhejiang play a leading role in promoting China's modernization with Chinese characteristics.