China News Agency, Beijing, June 19 (Reporter Chen Kangliang) Chinese stock market ushered in heavy reform on the 19th. The Shanghai Stock Exchange (Shanghai Stock Exchange) announced on the same day that, after research, the Shanghai Stock Exchange and China Securities Index Co., Ltd. (China Securities Index Co., Ltd.) decided to revise the compilation plan for the Shanghai Composite Index from July 22, 2020. include:
First, if the index sample is subject to risk warning, it will be removed from the index sample from the next trading day on the second Friday of the month following the risk warning measure. Securities with revoked risk warning measures will be included in the index from the next trading day on the second Friday of the month following the revoked risk warning measure.
Secondly, newly listed securities with the average daily market capitalization ranking in the top 10 of the Shanghai stock market are included in the index three months after listing, and other newly listed securities are included in the index one year after listing.
Third, the depository receipts issued by red chip companies listed on the Shanghai Stock Exchange and the securities listed on the Science and Technology Board will be included in the Shanghai Composite Index according to the revised compilation plan.
The Shanghai Composite Index was released in 1991. It is the first stock index in the A-share market and a very representative stock index for A-shares. The core compilation method is still in use today.
The relevant person in charge of the Shanghai Stock Exchange said that in recent years, there have been many voices in the community on the revision of the Shanghai Composite Index compilation plan, and opinions such as "the distortion of the Shanghai Composite Index" and "the failure to fully reflect changes in the market structure" have frequently appeared. In order to fully respond to market calls, to further improve the scientificity and rationality of index compilation, and to more accurately characterize the overall performance of the Shanghai market, the Shanghai Stock Exchange and China Securities Index Company are fully listening to market opinions, studying the development and changes of China's capital market, and drawing on the international experience basis of index compilation. In the past, we have been studying and carefully starting the revision work of the Shanghai Composite Index compilation plan.
The person in charge said that the index compilation follows the scientific requirements, combing the index compilation elements such as sample space, sample selection method and sample adjustment of the Shanghai Composite Index, forming the revision direction of the Shanghai Composite Index. On this basis, the Shanghai Stock Exchange has organized a number of seminars on index compilation and revision, and recently established an expert consultation mechanism for index compilation, actively consulting fund companies, insurance assets management, domestic and foreign index companies and other institutions, as well as universities, research institutes and other experts. It is recommended that a revised plan for the preparation of the Shanghai Composite Index be formed, that is, to remove the stocks that have been subject to risk warnings, delay the calculation of new shares, and include the Science and Technology Board Securities in the sample space of the Shanghai Composite Index.
The person in charge believes that the implementation of the revised index compilation plan will further enhance the market representativeness and stability of the Shanghai Composite Index, make the Shanghai Composite Index more accurately characterize the overall performance of the Shanghai market, more fully reflect the changes in the Shanghai market structure, and observe the market for investors. Provide a more ideal scale for operation and wealth management. (Finish)