The Shanghai Stock Exchange (SSE) has recently launched the work of supplementing members of the Stock Listing Committee of the SSE STAR Market as required for building the SSE STAR Market and the examination work. On September 24, 2020, the SSE publicized a list of candidates for to-be-supplemented members. The examination and discussion by the Stock Listing Committee is one of the organic components for the examination on issuance and listing of the SSE STAR Market. Over the past year, establishing the SSE STAR Market and piloting the registration-based IPO system witnessed were carried out steadily, and the examination mechanism characterized by openness and transparency, standardization and efficiency and clear expectation was widely acknowledged. In the process, the Stock Listing Committee diligently fulfilled its duty and played a positive role. Consideration goes to the following three aspects for the supplementation of the committee members:
First, promoting building the SSE STAR Market. A practical need for building the SSE STAR Market is to promote its growth and, give full play to its role in clustering, demonstration and leading technological innovation. At present and in the near future, the examination work of issuance and listing will still be intensive with fast pace. The supplementation will provide new personnel to the team and, guarantee the normalized examination on issuance and listing and boosting the market’s sound growth.
Second, optimizing the member structure of the Stock Listing Committee. The to-be-supplemented members come from securities regulatory system, investor protection agencies, listed companies, law firms and accounting firms. The categories and numbers of the new members is based on the existing members’ makeup and structure. The representativeness and balance of the members in terms of occupation, industry and professionalism will be further cemented, to give full play to the Committee in issuance and listing examination.
Third, guaranteeing sound operation of the Stock Listing Committee. The first Stock Listing Committee was established in April 2019, with tenure of 2 years, ending in April 2021. The 2-year tenure of the new members will commence when they are officially appointed, avoiding the impact the steadiness and continuity of the Committee’s duty fulfillment caused by expiry of tenure and re-appointment, and ensuring the orderly transition of the Stock Listing Committee’s work.
The candidates for the committee members released were recommended by relevant agencies and institutions according to the job qualifications and relevant procedures. The SSE established the culling committee to examine and discuss the people recommended, and 27 candidates were selected. The list of candidates is publicized for no less than 5 working days. After the publicity, the SSE will have an interview with the candidates and further culling according to the required procedure. It is predicted to supplement about 20 committee members.