SZSE General Manager Song Liping Speech at China’s 9th Securities Investment Fund International Forum
At the beginning, Ms. Song, the SZSE general manger said, “Today’s gathering is for the purpose of discussing the direction in the future development of China’s fund market.” And she noted that the SZSE fund market has garnered the rapid development and the listed funds have exceeded 100 for the first time so far; she deeply believes the listed funds have the huge development potential and will make tremendous achievements. At the meeting, Ms. Song especially mentioned the following aspects in her speech.
Firstly, the listed fund market is the important and indispensable part of the SZSE multi-layer and multi-varieties market. After 20 year development, the SZSE has built up the system framework of the multi layer capital market including main board, SME board, ChiNext board, quotation and share transfer system, with more than 1000 listed companies totally values at more than 8 trillion yuan.
The SZSE is devoted to gradually enriching the varieties for trading and improve the product lines in hope of building up the complete multi-layer and multi-varieties capital market. The bond market and asset securitization variety of the SZSE is seeking the breakthrough and the fund market has gotten much development. Through the many years of efforts, the SZSE listed funds develop rapidly and the number and size are fast growing. On the other hand, there is a gap between China’s listed funds and those funds listed on developed capital market.
Ms. Song emphasized that the listed funds will play more and more important role in the development of China’s fund market. As we all know, the fund platform of the exchange has the following four characteristics: rich products, low fee, convenient trading way and high efficiency of capital use. The development of listed funds will not only benefit investors, but also add new earning mode to securities companies. Furthermore, the listed funds will provide much transparency which is conducive to the long and healthy development of fund market and securities market. In recent days, with the launch of the securities lending and margin trading and stock index futures, a new historical opportunity is brought to the development of the listed funds.
Secondly, Ms. Song shared the experience with the development of SZSE listed funds: the first point is that the ceaseless innovation is the crux of the sustained development of the listed fund market; the second point is that the win-win of multiple parties is the foundation of the successful development of listed funds. And the last one is that the risk prevention is of vital importance and the basic premise for the healthy development of the listed funds.
At last, Ms. Song talked about the ideas and prospect for the future development of SZSE listed fund market in four aspects as follows: the first one is to enrich product varieties and quantity, forge the LOFs supermarket; the second point is to stick to innovations with the focus on the development of tool-type and trading-type products; the third one is to take the further step to strengthen the risk management to ensure the healthy and steady development of listed fund market; the last is to strengthen the cooperation with market participants to realize the win-win.
At the end, Ms. Song delivered the heartfelt appreciation and thanks to all giving the support to the SZSE work in so many years.