Opinions on setting up scientific and technological innovation board in Shanghai Stock Exchange to promote and improve the reform of registration system

In order to implement the "Implementation Opinions on Establishing Science and Technology Innovation Board and Pilot Registration System in Shanghai Stock Exchange", further promote the establishment of science and technology innovation board and the reform of pilot registration system, and improve the trading system of science and technology innovation board, under the guidance of China Securities Regulatory Commission, Shanghai Stock Exchange (hereinafter referred to as Shanghai Stock Exchange) actively promotes the launch of a new trading mechanism of science and technology innovation board in the stock market, and goes all out to make all preparations for the trading of science and technology innovation board in the stock market. At present, the Shanghai Stock Exchange has completed all the preparatory work and is ready to launch the stock market trading business of science and technology innovation board. By the end of June, 65438+1October, 65438+April, 2022, with the approval of China Securities Regulatory Commission, 14 securities companies had obtained the qualification of listed securities for market trading, which indicated that some securities companies had the conditions to carry out market trading of science and technology innovation board stocks.

Since the opening of science and technology innovation board, the pilot of registration system has been steadily promoted, and the basic system reforms such as issuance, listing, information disclosure, trading and delisting have been promoted as a whole. All institutional arrangements have withstood the test of the market and created good conditions for introducing the market maker mechanism. In the early stage, the China Securities Regulatory Commission issued the "Pilot Provisions on the Stock Market Trading of Science and Technology Innovation Board of Securities Companies" on May 3, 2022, and the Shanghai Stock Exchange issued the "Implementation Rules for the Stock Market Trading of Science and Technology Innovation Board of Shanghai Stock Exchange" and its business guide on July 5, 2022. After the release of the rules, the Shanghai Stock Exchange actively carried out preparations for the market-making business of science and technology innovation board stocks, developed and built a management system for the market-making business of science and technology innovation board, formulated a targeted risk monitoring and supervision management plan, completed the special technical test for securities companies to carry out the market-making business of science and technology innovation board, and organized four network-wide tests. Next, according to the application of qualified securities companies, the Shanghai Stock Exchange will complete the filing of market-making transactions of specific science and technology innovation board stocks by market makers, and announce them to the market through relevant columns in official website. Market makers will carry out the stock market trading business of science and technology innovation board after filing.

The introduction of market maker mechanism is an important measure to continuously improve the basic system of capital market and further play the role of "experimental field" in the reform of science and technology innovation board, which is helpful to improve the stock liquidity of science and technology innovation board, release market vitality and enhance market toughness, and is of great significance to comprehensively promote the high-quality development of science and technology innovation board. Next, under the leadership of the CSRC, the Shanghai Stock Exchange will continue to deepen the reform and innovation of the science and technology innovation board, comprehensively promote the high-quality development of the science and technology innovation board, and provide strong support for building a new development pattern.