On March 11, at the launching ceremony of “100 experts investment and education bank” and the opening ceremony of ETF and fof course of Shanghai University of Finance and economics held in Shanghai, Lu Wendao, member of the Party committee and deputy general manager of Shanghai Stock Exchange, said in a written speech that the formation of the concept of rational investment and value investment is a long-term process, which can not be achieved overnight or once and for all. We need to start from an early age. We should not only pay attention to the forward-looking guidance of potential investors, but also pay attention to the systematic guidance of market active traders, but also pay attention to the targeted guidance of special groups such as elderly investors, so that the concept of rational investment and value investment can be disseminated, fully nurtured and rooted in advance.
Lu Wendao said that in recent years, the Shanghai Stock Exchange has attached great importance to investor education and protection, adhered to the fundamental task of guiding rational investment and value investment and the specific requirements of investment, education and insurance, integrated and embedded into various business fields and work links such as market organization, market supervision, market service and market innovation, and continuously promoted the working mechanism, means Innovation in ways, and strive to play a greater role in building a “big insurance” work pattern.
“In recent years, the Shanghai Stock Exchange has implemented the requirement of” zero tolerance “, adhered to the word” strict “, comprehensively strengthened front-line supervision, and paid more attention to protecting the legitimate rights and interests of small and medium-sized investors.” Lu Wendao said that in 2021, the Shanghai Stock Exchange implemented a total of 185 disciplinary actions against various violators, an increase of about 36% year-on-year; 126 securities issuers and 656 related regulatory objects were disposed of, with a year-on-year increase of about 15%; For typical and vicious cases such as financial fraud, fund occupation, illegal guarantee, “debt evasion and abolition”, and violation of regular report disclosure, the main responsible personnel made more than 50 punishment decisions such as public condemnation and public identification of unqualified candidates, with a year-on-year increase of about 20%; More than 5300 regulatory measures such as written warnings were implemented for abnormal transactions and violations of general information disclosure, with a year-on-year increase of about 60%.
In Lu Wendao’s view, ETF, as an important financial innovation product, has the characteristics of low cost, high efficiency and transparency, decentralized investment and can better meet the needs of investors’ asset allocation. “Since the first ETF product, SSE 50ETF, was officially established in December 2004, the ETF market of Shanghai Stock Exchange has achieved leapfrog development in the past 18 years. The main achievements are reflected in the rise of ETF scale in Shanghai Stock Exchange, high investor participation and more innovative achievements in ETF market.”
Lu Wendao said that the scale of ETFs in Shanghai stock market has increased steadily. By the end of 2021, a total of 406 ETFs had been listed and traded in Shanghai stock market, with a market value of 1.14 trillion yuan, breaking the trillion yuan mark for the first time. Investors’ enthusiasm for participation continues to rise. At present, there are more than 11.5 million accounts participating in Shanghai ETF trading, 23 times the number of participants of about 500000 five years ago. In particular, more and more institutional investors and long-term funds begin to enter the ETF market, promoting the formation of a climate of long-term investment and value investment in the A-share market.
At the same time, ETF market innovation achievements emerge one after another, from Kechuang 50ETF and mass entrepreneurship ETF to Shanghai, Shenzhen and Hong Kong ETF, to MSCI China A50 interconnection ETF, and then to index enhanced ETF. ETF product chain continues to expand, providing investors with diversified asset allocation tools. In the future, the innovation pace of the ETF market of Shanghai Stock Exchange will continue to accelerate, the product layout will be richer, and the participation of investors will be higher and higher.
