Deepen exchanges and cooperation in global capital markets and work together to make world economic recovery more resilient

Deepen exchanges and cooperation in global capital markets and work together to make world economic recovery more resilient

The 60th World Federation of Exchanges General Assembly and Annual Conference was successfully held

From September 6th to 9th, under the guidance of China Securities Regulatory Commission and organized by Shenzhen Stock Exchange (hereinafter referred to as “SHENZHEN Stock Exchange”), the 60th World Federation of Exchanges (WFE) General Assembly and Annual Conference was successfully held in Shenzhen. The 60th WFE Annual Conference, the second to be held in China after 14 years, is of great significance to deepening exchanges and cooperation in global capital markets, giving full play to the role of exchanges in various countries, and enhancing the resilience and vitality of world economic recovery.

With the theme of “Resilience and Recovery: Market Infrastructure under COVID-19”, the conference was held in an “online + offline” format and was attended by officials from 91 stock and futures exchanges, clearing institutions and 37 financial regulators.

At the opening ceremony on 6 September, WFE Chairman Urs Jorgesag congratulated WFE on the success of this year’s WFE Annual Conference despite the impact of COVID-19, noting that the pandemic has caused great uncertainty to human society and the world economy, and unstable expectations are affecting the stability of global financial markets. In the face of COVID-19 challenges, global capital markets maintained continuous operation and open cooperation during the worst of the crisis, and the world economic and financial order is gradually being restored. WFE is the most important industrial organization, the international capital market plays an important role in the international financial governance, members shall adhere to the win-win cooperation, deepen the function of market infrastructure, to explore the application of the latest financial technology, play the advantage of the exchanges in such aspects as support the development of the economic recovery, a common response to the financial market risks and challenges, maintaining market order and stability, Promoting sustainable development of capital markets and the world economy.

Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC), said that serving the real economy and protecting the legitimate rights and interests of investors is the root and soul of capital market development, and should be the primary goal of global exchanges and regulators. Since the outbreak, global capital markets have shown strong resilience and quickly returned to normal functions, playing an important role in the steady recovery of the world economy. Moving into the future, open cooperation is the inevitable trend of the integrated development of global capital market. The China Securities Regulatory Commission is studying measures to further expand the institutional two-way opening of the capital market. Exchanges, financial institutions and regulatory authorities of all countries and regions should also exert their professionalism and further strengthen exchanges, cooperation, mutual learning and mutual trust. At the same time, along with a new generation of information technology and the rapid development of financial innovation, the exchange of traditional management and operation mode to face unprecedented challenges, the need to strengthen the regulation of digital intelligent, investor behavior changes resulting from social platform development, offering mode innovation, the new way to trade supervision about long-term strategic research on basic problems of sustainable development, We will comprehensively improve our capacity to respond.

According to Qin Weizhong, mayor of Shenzhen, shenzhen is one of the main birthplaces of China’s capital market. The capital market has helped Shenzhen cultivate a number of leading enterprises with international competitiveness and develop into an international city with global influence. Shenzhen municipal government will actively promote financial sector reform and opening up and innovation and development, the full support of the shenzhen stock exchange building world-class exchange, efforts to forge a global innovation capital formation to shenzhen center, financial innovation and financial center of science and technology, in order to achieve high quality economic and social development to provide strong support, to speed up the construction of socialism with Chinese characteristics demonstration zone ahead.

Party secretary of shenzhen stock exchange, the director wang said that the capital market is an important part of the global economic and financial system, since the outbreak, the shenzhen stock exchange in accordance with requirements of the China Securities Regulatory Commission, elasticity, temperature regulation and service, firmly implement the gem pilot reform and registration system, continue to promote high levels of opening to the outside world, actively build green financial service system, We will spare no effort to develop a safe and efficient technology system, further support innovation, innovation, innovation, and innovation, and serve the development of the real economy.

At the closing ceremony on September 9th, WFE officially launched the research report “Investor types, Liquidity and Price Formation: Empirical data from the Thai Stock Exchange”. In addition, WFE held an online general meeting to review 2021 and 2022 work plans, and announced the names of the new WFE President, Vice President and board of directors.

WFE’s new chairman, chairman of the Chicago board options exchange, President and CEO Ed tilly in his speech, called for the global stock exchange industry is to promote the economy to inclusive and sustainable development is the important engine of transition, should continue to cooperate, the short-term and long-term effects of positive response to the outbreak, to maintain the integrity of the global capital market and promote intelligent efficient line regulation, Facilitating the global flow of capital. WFE will continue to provide a code of conduct and standards for the exchange industry, and play an important role in strengthening the resilience of capital markets, promoting openness and cooperation in global capital markets, and facilitating economic recovery.

“In recent years, the Shenzhen Stock Exchange has carried out connectivity, product listing, joint index development and technical cooperation with partner exchanges, and achieved a series of positive results.” Shenzhen Stock Exchange general manager Sha Yan said. She put forward three proposals on further promoting global capital market cooperation. First, more practical measures should be taken to support the development of small and medium-sized enterprises. Second, build consensus and promote cooperation in a more inclusive manner. Third, leverage the pivotal role of capital markets to improve the global governance system.

Founded in 1961, WFE is the highest level non-profit and professional international organization in the global exchange industry. Currently, it has 67 full members and 24 affiliated members, covering the major global stock, bond and derivative markets. Shenzhen Stock Exchange, Shanghai Stock Exchange, DCE, ZHENGZHOU Stock Exchange, Shanghai Stock Exchange, China International Capital Exchange and China Clearing are all full members. In recent years, the influence of China’s capital market in WFE governance is increasing.