On October 29, the Shanghai Stock Exchange (SSE) organized the First Flight – Special Workshop for Chairmen and Presidents of Companies Listed on the SSE STAR Market, with on-site lectures offered to 148 chairmen, presidents and other senior executives from 98 STAR-listed companies. While the SSE STAR Market is to mark its two-year anniversary with the number of the listed companies to reach 200, the chairmen and presidents participating in the workshop were mainly from the companies newly listed on the SSE STAR Market this year. Huang Hongyuan, Chairman of the SSE, attended the opening ceremony and delivered a speech. Also sharing insights with the trainees were SSE Executive Vice President Lu Wendao and the market professionals, experts and scholars from securities companies, equity investment institutions, institutions of higher learning and financial media.
Organizing trainings for the chairmen and presidents of the STAR-listed companies is a specific measure taken by the SSE to implement the Opinions on Further Improving the Quality of Listed Companies issued by the State Council, and it has always been a key task in the regulation of the companies listed on the SSE STAR Market since the operation of the market. According to statistics, among the STAR-listed companies, there are more than 80% of them with the actual controller as the chairman, nearly 70% with the positions of chairman and president held by the same person, and more than 50% with the chairman recognized as a core technological professional. Therefore, the sense of integrity of the chairmen and presidents largely determines the governance level and information disclosure quality of the listed companies on the SSE STAR Market. Focusing on the chairmen and presidents, a critical group, the workshop has been designed to regulate the corporate governance and information disclosure behavior of the STAR-listed companies at the root and push them to constantly improve the capacity for scientific and technological innovation and company quality.
During the training, the SSE required the chairmen and presidents of the STAR-listed companies to fulfill the duty of good faith, safeguard the independence of the listed companies, and effectively protect the legitimate rights and interests of the listed companies and investors, in accordance with the Opinions on Further Improving the Quality of Listed Companies issued by the State Council; it was emphasized that they must bear in mind and adhere to staying in awe of the market, the rule of law, expertise, and investors, firmly defend the four bottom lines of not disclosing fake information, not engaging in insider trading, not manipulating stock prices, and not damaging the interests of the listed companies, and complete the role transformation from an ordinary company to a public company in mind and in conduct; in addition, the trainees should assume the responsibilities as a "key person" in improving the quality of the listed company, the "pathfinder" in scientific and technological innovation, and the "leader" in the development and growth of the STAR-listed company, bring entrepreneurship into full play, make good use of the various market-oriented mechanisms of the SSE STAR Market, make efforts in allocating resources, attracting talents and expanding the industry, and achieve healthy development of the enterprise in the course of contributing to the country through science and technology and giving back to the society.
In the future, the SSE will continue to follow the requirements for proper, categorized, professional and continuous regulation, strengthen the connection with the "critical few" of the STAR-listed companies, actively respond to their demands, effectively evaluate the systems, improve the institutional supply, strive to enhance the SSE STAR Market, optimize the services for the STAR-listed companies, and encourage them to grow into role models in the improvement of listed companies' quality.