Shenzhen Stock Exchange

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Number of listed companies
Domestic market capitalization
million US$

Shenzhen Stock Exchange

Name Shenzhen Stock Exchange
Country China
Number of listed companies 2578
Domestic market capitalization 6219831.22 million US$
SSE Partner Exchange Yes
Has annual sustainability report No
ESG reporting required as a listing rule No

  • For listed companies in China, only those categorized as key pollutant emission units are mandatory to disclose carbon emission information. The guidance they use is mainly released by China Securities and Regulatory Committee (CSRC) and Shenzhen Stock Exchange depending on their listing boards.
Has written guidance on ESG reporting Yes

  • Shenzhen Stock Exchange Social Responsibility Instructions to Listed Companies
  • In September 2006, Shenzhen Stock Exchange (SZSE) issued the “Guidelines for Corporate Social Responsibility of Shenzhen Stock Exchange Listed Companies”. From 2009 to 2010, the three boards of SZSE successively issued the “Guidelines for the Standardised Operation of Listed Companies”, which contained two separate chapters of “Corporate Governance” and “Social Responsibility”. In 2015, SZSE further revised the “Guidelines for the Standardised Operation of Listed Companies” and issued the Memorandum of Information Disclosure for Periodic Reports. Listed companies which are included in component of the Shenzhen 100 Index shall disclose social responsibility reports in accordance with the revised guidelines.
Offers ESG related training Yes

  • SZSE has been offering training courses and seminars to senior management, independent directors of listed and Pre-IPO stage companies on ESG-related topics since September 2007, covering topics of socially responsible investing, compilation of corporate social responsibility report etc.
  • In 2022, SZSE provided training on Climate-related Financial Disclosures (TCFD recommendations) in collaboration with the SSE, CDP and IFC. (source)
Market covered by sustainability-related index Yes
Has sustainability bond listing segment Yes

  • SZSE assigns designated labels for ESG-related bond products. For example, the green bonds will be specially labelled as “G” in the bond code – https://bond.szse.cn/
Has SME listing platform Yes
Women on boards mandatory minimum rule No
Additional information
Organizational model of stock exchange
  • Member-based stock exchange
Regulatory bodies

Regulatory model
  • A self-regulatory legal entity under the direct administration of the CSRC.
About the stock exchange

Location: Shenzhen, China.

  • Shenzhen Stock Exchange (SZSE), established on 1st December, 1990, is a self-regulated legal entity under the supervision of China Securities Regulatory Commission (CSRC). It also organizes, supervises securities trading and performs duties prescribed by laws, regulations, rules and policies. Its main functions include providing the venue and facilities for securities trading, formulating operational rules, receiving listing applications and arranging securities listing, organizing and supervising securities trading, supervising members; regulating listed companies, managing and disseminating market information and other functions as approved by the CSRC. (Source).

Criteria for Stock Exchange Database

The SSE maintains a database of sustainability activities for all stock exchanges that are either members of the SSE initiative and/or members of the World Federation of Exchanges. This database is the most comprehensive database of stock exchanges worldwide and contains data on all main stock exchanges. The information in this database is intended to inform investors and other stakeholders on the work stock exchanges are undertaking to advance sustainability in their respective markets.

The information provided in this database is based on publicly available information prepared by the SSE Secretariat with input from stock exchanges in most instances. Sources and explanatory notes on sustainability information have been included in individual Stock Exchange Fact Sheets. The criteria for each category can be found below.

While every effort is made to keep the information in this database up to date, please be aware that certain factors change frequently and therefore may not be exact, such as the number of listed companies or market cap.

Field

Criteria Considered
Country Country of primary residence or registration
Has signed the SSE Commitment Letter? To be considered an SSE Partner Exchange, the CEO or Chairperson of the exchange must sign an SSE commitment letter. Contact the SSE for more information if your exchange would like to join.
Has annual sustainability report? For a yes, stock exchanges must report, either in a stand alone report or integrated into their financial report, on their environmental and social impact and corporate governance.
ESG reporting required as a listing rule? For a yes, all three factors have been considered (environmental, social and governance) within the listing rules for some or all listed companies. This requirement may come from the regulatory authority or the exchange, depending on the market.
Offers written guidance on ESG reporting? For a yes, all three factors have been considered (environmental, social and governance). The SSE has developed a model guidance that all exchanges can use to develop their own guidance to issuers. For more details, click here.
Offers ESG related training? For a yes, training must have taken place in the previous 12 months, and must be interactive. The topic of the training must be on some area of sustainability.
Market covered by sustainability-related index? Sustainability-related indices may include environmental or social  indices, or ESG indices. This could include specific themes, such as low carbon indices, or general sustainability indices. The index must be specific to the market the exchange operates in (a region or world index is not included).
Has sustainability bond listing segment? For a yes, the exchange has developed the rules and regulations allowing for sustainability bonds to be listed, and provides a separate segment for listing making the bonds easy to find and identify.
Has an SME listing platform? For a yes, the exchange offers a listing platform specifically for Small-and-Medium sized enterprises.
Additional Information Additional Information captures exchanges’: sustainability section of websites,  sustainability products not captured under indices; information on future sustainability commitments and other information on the exchange
Organizational model of stock exchange Whether the exchange is listed or not, and when it was demutualized
Regulatory bodies The regulatory authority that sets listing requirements and capital market regulation for the exchange's market
Regulatory model

The extent to which exchanges have regulatory authority in their market. This may include:

  • Limited exchange SRO
  • Strong exchange SRO
  • Independent member SRO
  • Government (Statutory)
  • Non-SRO
About the stock exchange The location of the headquarters of the exchange, and any additional details about the stock exchange.