In November 2013, the Third Plenary Session of the 18th Central Committee of the Communist Party of China adopted the Decision of the Central Committee of the Communist Party of China on Several Major Issues Concerning Comprehensively Deepening Reform, which clearly proposed to "promote the reform of the stock issuance and registration system".

On November 5, 2018, General Secretary Xi Jinping announced at the opening ceremony of the first China International Import Expo that the establishment of a science and technology innovation board and a pilot registration system on the Shanghai Stock Exchange marked the start-up and implementation stage of the reform of the registration system.

In December 2018, General Secretary Xi Jinping delivered an important speech at the Central Economic Work Conference, pointing out that a standardized, transparent, open, dynamic and resilient capital market should be created by deepening reform.

On January 23, 2019, General Secretary Xi Jinping presided over the sixth meeting of the Central Comprehensive Deepening Reform Commission and delivered an important speech. The meeting deliberated and adopted the General Implementation Plan for the Establishment of a Science and Technology Innovation Board and the Pilot Registration System on the Shanghai Stock Exchange and the Implementation Opinions on the Establishment of the Science and Technology Innovation Board and the Pilot Registration System on the Shanghai Stock Exchange. The meeting pointed out that it is necessary to steadily pilot the registration system, promote the reform of the basic system such as issuance, listing, information disclosure, trading and delisting, and establish and improve the stock issuance and listing system centered on information disclosure.

On July 24, 2019, General Secretary Xi Jinping presided over the ninth meeting of the Central Comprehensive Deepening Reform Commission and delivered an important speech. The meeting deliberated and adopted the Opinions on Supporting Shenzhen in Building a Pilot Demonstration Zone of Socialism with Chinese Characteristics, and proposed to study and improve the issuance, listing, refinancing and mergers and acquisitions and restructuring systems of the GEM, and create conditions to promote the reform of the registration system.

On April 27, 2020, the 13th meeting of the Central Comprehensive Deepening Reform Commission deliberated and adopted the General Implementation Plan for the Reform and Pilot Registration System of the Growth Enterprise Market, and the reform and pilot registration system of the GEM was launched.

In October 2020, the Fifth Plenary Session of the 19th Central Committee of the Communist Party of China clearly proposed to fully implement the stock issuance registration system, establish a normal delisting mechanism, and increase the proportion of direct financing.

On March 11, 2021, the Fourteenth Five-Year Plan for National Economic and Social Development of the People's Republic of China and Outline of Vision Goals for 2035 was adopted, proposing to fully implement the stock issuance registration system, establish a normal delisting mechanism, and improve the quality of listed companies.

On September 2, 2021, General Secretary Xi Jinping announced in his speech at the Global Service Trade Summit of the 2021 China International Service Trade Fair that he would continue to support the innovative development of small and medium-sized enterprises, deepen the reform of the new third board, establish the Beijing Stock Exchange, and build a main position for innovative small and medium-sized enterprises.

In December 2021, the Central Economic Work Conference clearly proposed to do a good job in the pilot reform of the market-oriented allocation of elements and fully implement the stock issuance registration system.

On March 5, 2022, Premier Li Keqiang of the State Council made a report on the work of the government to the Fifth Session of the Thirteenth National People's Congress, proposing to fully implement the stock issuance registration system to promote the stable and healthy development of the capital market.

The above content is forwarded from Questions and Answers on the Comprehensive Implementation of the Reform of the Stock Issuance Registration System