On October 16, the Global Wealth Management Forum · 2026 Shanghai Suhewan Conference was held in Shanghai from October 16 to 17, 2026. Yuan Duoran, Vice President of the Shanghai Stock Exchange, attended the conference and delivered a speech. Yuan Duoran shared three key insights based on the SSE's practical work.
Driving growth through reform to serve new quality productive forces
Yuan Duoran stated that in recent years, the SSE has adhered to the STAR Market's positioning of serving hard technology, steadily promoted the implementation of reforms including the STAR Market Eight Measures, M&A Six Measures, and STAR Market 1+6, and vigorously enhanced the quality and efficiency of the capital market in serving new quality productive forces. Currently, there are 618 companies on the STAR Market, with total fundraising through IPOs and refinancing exceeding 1.2 trillion yuan. The SSE has cumulatively supported 65 unprofitable enterprises, 10 companies with special shareholding structures, 8 red-chip enterprises, and 24 companies listing under the fifth set of standards. To date, the SSE has cumulatively supported the issuance of over 2 trillion yuan in science and technology innovation bonds, with medium- and long-term sci-tech innovation bonds accounting for more than 60% of the issuance of sci-tech bonds in the domestic market.
Improving quality and efficiency through reform to enhance the capital market's appeal
In recent years, the SSE has continuously promoted improving the quality of listed companies, enriching the product system, and vigorously enhancing the investability of the capital market and investors' sense of gain. According to Yuan Duoran, in the first half of 2026, more than 2,300 Shanghai-listed companies achieved total revenue of over 26 trillion yuan, a year-on-year increase of 6.3%, with net profit of 2.8 trillion yuan, up 17.6% year-on-year, and nearly 80% of companies achieved profitability. In June this year, the SSE released the 2.0 special action initiative on improving quality, enhancing efficiency, and prioritizing returns for Shanghai-listed companies, with over 80% of companies publishing action plans. Since 2026, the SSE has seen over 430 new disclosures of buybacks and shareholding increases, with planned maximum amounts exceeding 96 billion yuan; in the first half of the year, 427 companies announced interim dividends, with total cash dividends reaching 633 billion yuan. As of September this year, the SSE had 1,124 listed funds with a total market value of 3.5 trillion yuan, and a trading volume of 65.4 trillion yuan from January to September, with ETF trading volume and market value ranking first and third in Asia, respectively.
Expanding openness through reform to coordinate capital market opening and security
Yuan Duoran emphasized that in recent years, the SSE has continuously deepened interconnectivity mechanisms, enriched cross-border investment products, and unswervingly advanced the opening-up of the capital market. The Shanghai-Hong Kong Stock Connect mechanism has been continuously optimized, with the cancellation of the aggregate quota limit and expansion of the daily quota, and the promotion of including stock ETFs in the eligible scope. Currently, Shanghai Stock Connect eligible stocks cover 90% of the SSE's stock market value, with average daily trading volume growing from 4.7 billion yuan in the first month of its launch in 2014 to 101 billion yuan last year. ETF Shanghai Stock Connect has been deepened, actively promoting cross-border index-based investment, and achieving ETF cross-listing between China-Japan, Shanghai-Hong Kong, China-Singapore, and China-Brazil. The scale of cross-border index products on the SSE exceeds 470 billion yuan. The level of international investor services has been enhanced, with various types of overseas investors currently holding over 4 trillion yuan in A-share circulating market value.
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