SSE promotes flexible blue-chip dealing

Shanghai Stock Exchange (SSE) will improve blue chip transactions with the introduction of a more flexible system, the Shanghai Securities News reported on Friday.

The SSE Chairman Gui Minjie told the journal that bourse reforms will focus on blue chips, the bond market, security derivatives and market accessibility.

The SSE will prepare comprehensive reforms of the whole transaction process, including offers, listing, refunds and delisting. Information disclosure must be more efficient if the SSE blue chip market is to grow into a key platform for multilevel capital and resource allocation.

The SSE will stimulate the bond market to extend its depth and range; support direct financing; separate financial risks; and develop more investment instruments, Gui said.

The bourse will deal with its shortcomings -- lack of financial products and security derivatives -- and strive for innovation in share option transactions.

Plans have been made for better cooperation with overseas counterparts in exchange products and cross-listing, which will help the SSE be more competitive, he said.