上交所发布“十四五”改革发展情况回顾

Core Viewpoint - The Shanghai Stock Exchange (SSE) is committed to high-quality development during the "14th Five-Year Plan" period, aiming to build a world-class exchange while actively integrating into the national economic and social development landscape [1] Group 1: Market Development and Achievements - SSE has become the third-largest stock market globally, the largest exchange bond market, and the second-largest ETF market in Asia [1] - The proportion of technology innovation companies in the Shanghai market increased from 32% to 41% over five years, with their market value share rising from 27% to 32% [2] - The number of integrated circuit companies in the market has nearly doubled compared to the "13th Five-Year Plan," with 140 companies forming a complete semiconductor chip industry chain [2] Group 2: Financial Performance and Innovation - R&D investment by companies in the Shanghai market increased from 0.64 trillion yuan to 1.07 trillion yuan, a growth of 66%, accounting for nearly 40% of the national total [2] - The number of newly listed companies on the Sci-Tech Innovation Board reached 376, including 37 unprofitable companies, with over 40% of them achieving profitability post-listing [3] Group 3: Financing and Investment - The total financing amount from stock IPOs in the Shanghai market grew by 16% during the "14th Five-Year Plan" period, while the bond market issuance reached 31 trillion yuan, a 42% increase [4] - The REITs market saw 51 new listings, raising 140.5 billion yuan, accounting for nearly 70% of the market [4] - The issuance of technology innovation bonds reached 1.51 trillion yuan, benefiting over 400 tech companies [4] Group 4: Regulatory and Investor Protection - The SSE has implemented a new generation of company supervision systems to combat fraud and financial misconduct, resulting in nearly 800 disciplinary actions [9] - The average annual dividend yield in the Shanghai market approached 2.5% during the "14th Five-Year Plan" period, promoting a culture of shareholder returns [9] Group 5: International Cooperation and Market Openness - The SSE has actively integrated into the global market, with the cumulative trading volume of the Shanghai-Hong Kong Stock Connect reaching 99 trillion yuan, a 275% increase [8] - The SSE has established capital market cooperation with the Middle East and hosted international investor conferences to attract foreign investment [8] Group 6: Future Directions - The SSE aims to continue supporting China's modernization and financial strength, focusing on new requirements and tasks in the upcoming period [12]