On April 28, Shenzhen Stock Exchange ("SZSE") held a mobilization and deployment meeting for promoting the reform of the ChiNext Board and piloting the registration-based IPO system, at which preparations for the reform were notified, the reform priorities were interpreted and next-step key tasks were laid out. All intermediate leaders or above and relevant departmental employees of SZSE were present.

It was pointed out at the meeting that promoting the reform of the ChiNext Board and piloting the registration-based IPO system are important tasks assigned by the CPC Central Committee with Comrade Xi Jinping at its core, an important step in comprehensively deepening capital market reform and of great significance for perfecting the market-oriented element allocation system and mechanism, deepening the supply-side structural reform in finance, giving full play to the hub role of capital market, improving the capacity of capital market to serve real economy and supporting the development of the Guangdong-Hong Kong-Macau Greater Bay Area and the pilot demonstration zone of socialism with Chinese characteristics. All leaders and employees of SZSE should improve political stance, commit themselves to the reform with a strong sense of responsibility, mission and honor, and earnestly put the reform blueprint drawn up by the CPC Central Committee into practice. In addition, they should rely more on the underlying trend of innovation, creativity and originality for adapting to development, bolster the deep integration of traditional industries with new technologies, new industries, new business forms and new models and better facilitate the state's overall strategies and high-quality economic development.

It was believed at the meeting that promoting the reform of the ChiNext Board and piloting the registration-based IPO system is an important proposition granted by the new era to capital market and a major exploration of the establishment of a multi-tiered capital market system. On the one hand, with the implementation of the registration-based IPO system as a major task, the system will refine basic capital market rules governing issuance, listing, information disclosure, trading and delisting and capital market functions, strengthen the ability to serve innovative start-ups and promote the independent and virtuous cycle of China's capital, science & technology and industry systems. On the other hand, the "incremental + existing business" reform will be advanced synchronously. A series of exploratory arrangements will be made for rule adaptability, connection of old and new rules and coordinated development, so as to gain experience for market-wide promotion of the registration-based IPO system and push forward capital market reform towards a "deep water zone".

It was emphasized at the meeting that, as China's economic and social development is facing complicated and severe situations and new developments may occur when promoting the reform of the ChiNext Board and piloting the registration-based IPO system, SZSE should give top priority to stability and pursue progress while ensuring stability, and all leaders and employees should work hard on the reform in a reverent, responsible, high-spirited, rigorous and pragmatic manner. First, doing well in market organization. SZSE should communicate with market players, make market-wide technical preparations as planned, and press ahead with the transfer of enterprises under review and linking of newly submitted enterprises in an orderly fashion. In addition, SZSE should strengthen training and mobilization of intermediaries, vigorously carry out publicity and education to investors and urge related parties to cooperate on the reform. Second, responding to market concerns. SZSE should conscientiously solicit opinions on rules and regulations, convene symposiums to fully listen to the opinions and suggestions of related parties and consolidate the institutional foundation for the reform. Third, optimizing market services. SZSE should make good and full use of reform rules, properly link old and new rules, and actively publicize and interpret policies. Furthermore, SZSE should further boost service quality, make the reform benefit all market entities and effectively enhance the sense of gain.