MIIT and SZSE Promote Integration between Industries And Finance to Facilitate the Development Of Emerging Industries

date: 2018-4-12

 

On Apr 10, 2018, Ministry of Industry and Information Technology (MIIT) and Shenzhen Stock Exchange (SZSE) held the dialogue event on Industries-Finance Cooperation Promoting Development of Emerging Industries, which was convened in SZSE. This dialogue is an important part of the 6th China Information Technology Expo, which is a concrete move to thoroughly master and implement President Xi's Thought on Socialism with Chinese Characteristics in the New Era and the philosophy of the 19th CPC Meeting, to deepen the supply side structural reform and to materialize the innovation-driven development strategy of China. It is also a beneficial exploration into the role of finance in serving the real economy. This is the second dialogue jointly held by MIIT and SZSE since the one held last year, with around 300 representatives from Economy and Information Commissions, venture capital institutions and relevant companies from different regions attending the event this year.

 

The overall revenue of electronics technology industry in China reached around 20 trillion RMB, with highlights in the high-end chips, novel display technology and smart phones sectors, which are conducive to the integration of informatization and industrialization and the continual advancement of the construction of a powerful manufacturer, said representative from the department responsible for electronics-relevant issues under MIIT. The capital market is highly passionate in investing in new trends in electronic information sector, thus the urgent need to accelerate efforts in connecting these industries with financial service and establishing cooperation mechanism. First, we need to identify key sectors and improve correspondent financial services. We should extend more financial support to key companies in emerging industries like AI and mobile internet and innovate such support. Second, we need to enhance exchanges and cooperation between industries and finance, improve mechanism for such cooperation, pay solid efforts in promoting innovation in financial products and services, and to help create the synergy among the industry, innovation and capital chains. Third, we need to work out innovation strategies to promote investment in start-ups. The integration of fiscal, industry and financial policies may facilitate the development of new trends in electronics and information technology sector.

 

Under the unified leadership of China Security Regulatory Commission (CSRC) and with great support from MIIT and relevant parties, SZSE has always taken on itself the responsibility to promote technological innovation and to serve the development of the new economy. It extends active efforts to support the development of innovative companies with new technologies, industry features, business features and models,  continually improves the system of a multi-tier market, diverse products, professional services and internationalized development and keeps extending the ecological chain of financial services for technology innovation, said an officer from SZSE managing correspondent issues. SZSE attaches great importance to communications and cooperation with MIIT, and under CSRC & MIIT Strategic Cooperation Framework, they jointly organize a series of events e.g. industries-finance-integration and investment & financing roadshows which have shown preliminary results. Currently SZSE is establishing a leading innovation capital formation center with all-out efforts. The purposes are to better support IPO of innovative companies, actively deepen ChiNext board growth and reform, steadily advance the pilot projects of innovative companies' stock or depository receipt offering in domestic market. It also has the aim to improve the market platform and mechanism for capital market to serve innovation and start-ups as well as the Made in China 2025 Strategy. Secondly SZSE also extends more efforts to improve its capabilities in serving innovation. Targeting at basic, strategic and forward-looking issues of great significance, it conducts thorough research and provides professional and customized solutions to key industries and companies. It also continually improves the "Suishi Xinghuo" platform and regional market service platform, and supports companies to grow by IPO, re-financing, fixed income and M&As domestically and overseas.

 

During the communication session, representatives from CCID Consulting, Wisesoft, Sense Time and the Promotion Department of SZSE reported the latest progress on several fronts including the trends of emerging industries, corporate strategic layout for AI, and support on the part of the capital market in innovation of the new economic system from the perspective of the industry, listed companies, start-ups, and the capital market, fully discussing the dynamics of the emerging industries featuring AI and high-end manufacturing and the impact of industries-finance cooperation on the growth of businesses and quality development of the economy. During the dialogue session, representatives from Sunwin, Cambricon, Green Pine Capital and Oriental Fortune Capital shared their views on how capital may empower the intelligence industry, the capital environment for the intelligence industry from the view of businesses, and how institutional investors may facilitate the development of the industry while securing their returns.