China News Agency, Beijing, February 5 (Reporter Xia Bin) The China Securities Regulatory Commission announced on the 5th that it officially approved the Shenzhen Stock Exchange (hereinafter referred to as the "Shenzhen Stock Exchange") to merge the main board and the small and medium board.

  The relevant person in charge of the China Securities Regulatory Commission stated that merging the main board of the Shenzhen Stock Exchange with the SME board is an important measure to comprehensively deepen the reform of the capital market.

As an important part of China's multi-level capital market system, the main board of the Shenzhen Stock Exchange and the SME board have played an active role in expanding direct financing, serving the real economy, and supporting the development of SMEs.

  As of the end of January 2021, there were a total of 1,468 listed companies on the Shenzhen Stock Exchange's main board and small and medium-sized boards, accounting for 35% of the total number of A-share listed companies, with a total market value of RMB 23.39 trillion, accounting for 29% of the total market.

At the same time, the development of the Shenzhen Stock Exchange's main board and small and medium-sized boards has also exposed some problems, such as the homogeneity of the board and the long-term solidification of the main board structure.

  "Therefore, merging the main board of the Shenzhen Stock Exchange with the small and medium-sized board is a problem-oriented reform move, which is conducive to optimizing the structure of the Shenzhen Stock Exchange, forming a development pattern with the main board and the GEM each focusing on and complementing each other, and better meeting the needs of companies at different stages of development Financing needs to enhance the service functions of the Shenzhen Stock Exchange." The person in charge said.

  He further emphasized that the overall arrangement for merging the main board of the Shenzhen Stock Exchange with the small and medium-sized board is "two unified, four unchanged."

"Two unifications" refers to the unification of the business rules of the main board and the small and medium-sized boards, and the unified operation and supervision mode.

"Four unchanged" means that the conditions for issuance and listing after the merger of the sectors remain unchanged, the investor threshold remains unchanged, the trading mechanism remains unchanged, and the securities code and abbreviation remain unchanged.

The China Securities Regulatory Commission will guide the Shenzhen Stock Exchange to integrate the main board and the small and medium-sized board system rules, do a good job of supervisory connection, make adaptive adjustments to issuance and listing, market products, index names, etc., and do a good job in technical system transformation and testing to ensure a smooth landing.

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