Shenzhen Oral History ｜ Chang Jinyong: Bold innovation Promoting the growth of the High Exchange into a national model

Oral time: July 6, 2022

Oral location: 8B of High -tech South Sandao Building in Nanshan District

▲ Chang Jinyong

Born in September 1961, he was born in Xinxiang City, Henan Province. He is currently the chairman of Qianhai Great Wall Fund Management (Shenzhen) Co., Ltd. and Shenzhen Huaao Venture Investment Enterprise (limited partnership) executive affairs partner. He has won the Achievement Award of the China Technology Market Construction, and has served as the Deputy Director of the Second Division of Shenzhen Television, Chairman of the Southern International Technology Exchange Market Co., Ltd., President of Shenzhen International High -tech Property Exchange, President of Shenzhen United Property Exchange, Chairman of the Shenzhen Evolution Rights Exchange The chairman of the Shenzhen New Industry Technology Property Exchange, the executive director of the China Technology Market Association, the vice chairman of the Shenzhen Entrepreneurship Investment Association, and an expert of the Shenzhen Expert Committee Investment Committee. Participate in the creation of Shenzhen Qianhai Financial Assets Exchange and Qianhai Equity Trading Center.

For many people, Shenzhen is a place to realize dreams and self -worth. As an innovative city, Shenzhen has taken the lead in the country in the work of the joint -stock system of small and medium -sized technology -based enterprises. It is the first to form an advantage in the number and quality of joint -stock enterprises, especially technology -based joint -stock enterprises, and lays a good foundation for future Shenzhen economic development. I am honored that I can contribute my own strength to the construction and development of Shenzhen. In the future, I will continue to work hard to grow together with the city.

one

When I was in different, I suddenly felt a strong feeling in my heart. The future of Shenzhen must be amazing! There is also a yearning for Shenzhen in my heart.

In September 1961, I was born in Xinxiang City, Henan Province. Due to my parents' work, I grew up and study in Anyang, Henan. In 1979, in the third year of resumed college entrance examination, I successfully admitted to Henan University and later went to Shanghai to study for graduate students. In October 1988, I followed an old professor to Guangzhou to attend the meeting. The old professor said to me: "Xiao Chang, Shenzhen is developing very quickly, and every day is changing with each passing day. You can go and see if you have time."

With the curiosity in my heart, I took the bus from Guangzhou to Shenzhen. At that time, I closed the car at the south. After I passed the border inspection station, I didn't know how to take the car, so I was filled with a CMB car. The car drove forward along a very narrow road, and there were wheat fields and woods on both sides of the road. I don't know how long it took to stop. About Xiangmihu Road on Shennan Road, I looked forward in the car, and I could see a few high -rise buildings. In fact, it was the Shanghai Hotel area, but I didn’t know at the time. I thought it would be. Hongkong? So I hurriedly asked the people around me that I got the answer to "Shenzhen", and I felt it in my heart.

In the next week, I saw the "China's Tower Tower" at the time -Shenzhen International Trade Building, seeing the construction site of the hot and sky under the blue sky and white clouds, and seeing young people who struggle all over the country. When I was in different, I suddenly felt a strong feeling in my heart. The future of Shenzhen must be amazing! He also made a yearning for Shenzhen.

Resign from the work of "going to the sea" to start a business

After obtaining a master's degree in 1989, many students in the class chose large cities such as Beijing, Shanghai, and Guangzhou, but I invested resumes to Shenzhen. What surprised me was that as a scientific research person, I did not expect that I was hired by Shenzhen TV station in the end. It shows that the criteria for choosing talents in Shenzhen at that time were not just to look at the profession, but also the concept of openness.

After arriving at Shenzhen TV, I was mainly responsible for the "Economic Observation" and "Stock Market Observation" column in the economic channel. In the past few years, I have met many stock judges and have learned a lot of economic knowledge. In 1995, a shareholder invited me to "go to the sea" to start a business. I am a person with a very innovative desire. I want to do it for five or six years on TV, and I am still young. I chose to come to Shenzhen to make a break? So I resigned from the work of the TV station.

two

The purpose of Shenzhen's High -Tech Fair is to convert more scientific and technological achievements into productivity. The High -Tech Fair has achieved good response, which has attracted great attention from all walks of life.

During the entrepreneurial period, we established Southern International Technology Trading Market Co., Ltd. At that time, we used a bank loan to buy a building in the Wudang Warehouse. In the 1990s, Zhuogang Warehouse did not have other business except the truck. We borrowed a loan of tens of millions of yuan from the bank, and the monthly interest was hundreds of thousands of yuan, but after thinking about many ways, we have not revitalized the project. Seeing the company's difficulty to support it.

At the time of life and death, some of the company proposed to ask me for help from the government to see if there were other good way out. After listening to my report, the leaders of the Shenzhen Science and Technology Bureau (hereinafter referred to as the Municipal Science and Technology Bureau) told me that the National Science and Technology Commission and the Municipal Science and Technology Bureau are vigorously promoting the development of science and technology enterprises. In the future, Shenzhen's science and technology industry will definitely take off. At present, these high -tech enterprises need office and R & D venues, especially some small high -tech enterprises.

Listening to the book for ten years. Our building can be used as an incubator for these high -tech enterprises. Therefore, we applied to the Municipal Science and Technology Bureau and the National Science and Technology Commission to establish a national permanent technology trading market called the Southern International Technology Trading Market. In fact, this trading market is an institution that specializes in the transformation of scientific and technological achievements and provides incubation venues for technology companies.

Next, we turned the entire building into zero. Before, we were a company hundreds of thousands of square meters. Now we are more than ten square meters, or even seven or eight square meters, a company, with a minimum rent of less than 1,000 yuan. As more and more enterprises settled, some of them are engaged in research and development, some do technical transformation, and some do other trade ... A building soon becomes an active trading market, and the company has also begun to make profits. High Exchange High Exchange becomes the only director of private enterprises

In October 1999, the first China International High -tech Achievement Fair (hereinafter referred to as the High Fair) was held in Shenzhen. At that time, the leaders of the Municipal Science and Technology Bureau found me and said, "Old often you want to support the Gao Jiandao, and your company must also participate." So, Southern International participated in the meeting as one of the organizers, and there was a special booth. The purpose of Shenzhen's High -Tech Fair is to convert more scientific and technological achievements into productivity. The High -Tech Fair has achieved good response, which has attracted great attention from all walks of life. In February 2000, the Provincial Party Committee proposed to engage in a "never ending high -end festival". At that time, the main leaders of the Guangdong Provincial Party Committee instructed to set up Shenzhen International High -tech Property Exchange (hereinafter referred to as the High Exchange).

After receiving the instructions from the Provincial Party Committee, the Shenzhen Municipal Party Committee and Municipal Government attached great importance to the coordination of the Municipal Science and Technology Bureau. In the process of preparation, some people have proposed to make institutional innovation. Shareholders cannot only have state -owned enterprises, and private enterprises must be made into mixed ownership, so as to be more vibrant. But in fact, most of the institutions that did technical achievements did not make money, even losing money, and almost no companies were willing to join. In this regard, the leaders of the Municipal Science and Technology Bureau called me if I could join. I thought that Southern International itself was a good thing to do technical transactions, and it was also a good thing to join the High Exchange. As a result, we took 2.7 million yuan. As the only shareholders of the private enterprise joined the High Stock Exchange, I also became the only director of the private enterprise.

High Exchange Establishment of Difficult Exploration Business

In October 2000, Shenzhen International High -tech Property Exchange was officially established. As one of the directors, I am still a "little white" in property rights trading, and I have never participated in the actual work of the High Exchange. At the beginning, the High Exchange undertaken the equity registration custody business of Shenzhen Securities Registration and Settlement Company. It is said that it is just to transfer more than 30 registered stock companies to the High Exchange. Due to the lack of authority and credibility, the market status of the High Exchange's equity registration custody is weak. If it is not recognized by the society, it is impossible to carry out business at all. The technical transaction business is even more bleak, so that it has lost money for three consecutive years.

By the end of 2003, there were almost people who were still on the second floor of the Science and Technology Building on the second floor of the Science and Technology Building. There were only less than one -third of the registered capital of 30 million yuan. However, the expenses cost at least 500,000 yuan, facing the situation of closure or integration at any time. Due to the serious lack of confidence and market resources, traders on the venue demanded for refund, and employees lost most of them. Those who did not leave were also in a state of swaying, caught in doubt and pessimism of the prospects of the High Exchange.

Three

At the end of 2005, the "Innovative Enterprise Growth Roadmap Plan" based on the independent innovation strategy was introduced: stock reform+custody+private equity → growth+listing.

▲ In October 2005, Chang Jinyong was interviewed by media at the listing ceremony of the China (South China) International Technical Property Exchange Center.

Dangerous ordered to serve as president of the High Exchange

One day in December 2003, the High Exchange held a board of directors. The former president no longer renewed. The company needs to re -select a new leader. The meeting started from 14:30 and continued to 20:30. In the end, I was unanimously voted for the president of the new business team. I can only suffer in danger. One is because the Southern International is a shareholder of the High Exchange, and I can't bear to watch the investment in the investment. The fate of the exchanges can only be self -destruction; the third is because I was the only director of the private identity in the board of directors at the time of the High Exchange. Everyone thinks that I should have a strong sense of responsibility.

It is also funny to remember now. As the new president of the High Exchange, I am confused about custody, registration, register of shareholders, and confirmation. In desperation, I can only "catch the ducks on the shelves", after all, dozens of people are still waiting to be fed. In this way, in my forties, I re -started reading Lang, starting from the long -established business backbone of property rights transactions. I asked the President's Office to give me a blackboard in the office. As soon as I was free, I invited them to give me a lecture.

In the situation at that time, from the president to the employees, everyone reduced half of the salary, tightened the belt, and helped the same boat. During the period from December 2003 to May 2004, we almost analyzed the market, discuss business, and seek ways together every day. This experience has formed a deep friendship, and such work habits have continued to this day.

Revitalize business

Make the High Exchange turn losses into a profit

In early 2004, in order to open the situation, the Shenzhen Securities Registration and Settlement Co., Ltd.'s non -listed stock company's equity registration custody business undertaken by the High Exchange, we re -organized and systematically improve the custody business rules and clarify the market positioning of the custody business. In 2004, in 2004, in 2004, in 2004 On September 22, the equity registration custody center of the High Exchange was established. To be honest, the center at that time was just a brand, and there was no practical content.

Later, after repeated communication and consultation with the municipal industrial and commercial administration department, especially the leaders of the Business Registration Branch at that time reflected a high sense of responsibility and innovation, and put forward many very professional opinions on our ideas. From the level of reform and innovation of the national commercial system, they seriously treated the connection between equity custody and industrial and commercial registration, and eventually broke the work and contributed to the healthy development of my country's capital market.

The resolution of the register of the equity of the hosting enterprise and the connection between the industrial and commercial registration has created a solid registration platform for the development of the High Exchange. These work specifications and achievements have enabled the change of equity custody and the registered registration with industrial and commercial registration has achieved seamless docking, laying the foundation for the formation of regional and national market trading models, institutions and mechanisms, and becoming a wide range of domestic institutions in China The direction of standards and efforts adopted. By the end of 2004, the High Exchange turned to a profit and began to enter the climbing stage.

What we was proud of our team who came from the operating dilemma was that the Beijing Stock Exchange deliberately arranged personnel to lead the comrades of the Beijing Municipal Bureau of Industry and Commerce to inspect the equity registration business of the High Exchange. Shortly after they returned, the Bei Stock Exchange was from the Beijing Stock Exchange. Equity registration custody business has also been carried out. In the next many years, many colleagues across the country have come to learn from the study.

Creativity proposes the "Innovative Enterprise Growth Roadmap Plan"

After solving the problem of survival, development is the last word. We realize that it is not enough to focus on the process of equity registration and custody of general non -listed joint -stock companies. Encourage, guide innovative enterprises to restructuring, and provide a set of value -added services before listing.

▲ In September 2006, Chang Jinyong hosted the promotion meeting of Shenzhen Innovative Enterprise Growth Roadmap Plan for Growth Roadmap in Wuzhou Hotel.

The High Exchange has previously possessed the foundation of equity registration and custody. It is necessary to grab the blue sea of ​​the beach and carry out the cultivation before listing on the classification of the listed enterprises. Enterprise (project) financing, high -tech achievement transformation, entrepreneurial investment and PE investment provide platform services, which can be said to be more than one fell swoop. With this longing, it can even be said to be a reverie. We repeatedly analyzed, discussed, and studied it. At the end of 2005, we creatively proposed the "Innovative Enterprise Growth Roadmap Plan" based on the independent innovation strategy: stock reform+custody+private equity → Growth+listing. This is a bold financial innovation, which has been fully affirmed and strongly supported by the Shenzhen Municipal Government and the Shenzhen Science and Technology and Information Bureau.

Soon after, the Shenzhen Municipal Government launched a supporting funding policy for participating in the growth roadmap planned enterprise. In that year, the High Exchange's Stock Reform Center helped 83 technology -based enterprises to carry out joint -stock transformation. By the end of 2013, with the help of the growth roadmap plan, the High Exchange had cultivated 73 listed companies in Shenzhen, and directly raised 26.9 billion yuan for enterprises. This not only strongly promotes the rapid standardization of Shenzhen SME technology -based enterprises, but also adds corporate resources to the equity registration custody center of the High Exchange, and has laid a good foundation for exploring the work outside the market outside the market. Subsequently, this plan was generally learned and adopted by many provinces and cities in China, and became a standard counseling template for governments to promote the listing of enterprises. As the main design and executor of the "Innovative Enterprise Growth Roadmap Plan", the High Exchange has undertaken important links such as stock reform, custody, and private equity of the proposed listed enterprises, and has made important contributions to the rapid development of innovative enterprises.

Unrestrained

People from all over the country have continued to gather here since the beginning of the reform and opening up, which has continued to inject fresh blood into the development of Shenzhen, which has created the vitality and vitality of the city.

Back to private entrepreneur identity

On November 16, 2009, under the overall arrangement of the Shenzhen Municipal Government, the Shenzhen High Exchange absorbed the Shenzhen Property Rights Trading Center and established the Shenzhen United Property Exchange (hereinafter referred to as the Stock Exchange). I continued to be the president. It is said that the absorption and merger is actually formed together. It is precisely that the Shenzhen State -owned Assets Supervision and SASAC has collected the High Exchange. This merger is better than the disadvantages to the High Exchange, the Property Exchange Center, and the State -owned Assetsship Bureau. By the end of 2010, the Stock Exchange realized a net profit of 46.423 million yuan, exceeding the sum of the two before the merger, forming a situation of winning a win -win situation of government, shareholders, platforms, and teams. In the past few years, various businesses of the Stock Exchange have developed rapidly and have entered a period of rapid development.

In 2012, I had the idea of ​​resigning the president. In 2014, the board of directors agreed to my resignation. After returning to the identity of private entrepreneurs, several friends and I founded Qianhai Great Wall Fund Management (Shenzhen) Co., Ltd., focusing on equity investment funds and investing in hard technology.

Balanced industrial structure helps Shenzhen to develop rapidly

Shenzhen is a young city of tolerance, innovation, aggressive, and daring to break through. People from all over the country have continued to gather here since the beginning of the reform and opening up, which has continued to inject fresh blood into the development of Shenzhen, which has created the vitality and vitality of the city. Dare to try to try it is the most representative character in Shenzhen. I have experienced it for more than ten years when I have worked in the High Exchange. Many of our innovative ideas can be supported by the government and quickly landed on the ground, and then learned from all over the country. This is why the country fully supports Shenzhen's construction. Shenzhen is also a city with a very balanced industrial structure. It has leading enterprises from various industries such as Huawei, Tencent, Huaxing Optoelectronics, DJI, McRishi Medical, and BYD. Complete industrial supporting and high -quality business environment has attracted talents and capitals of the country and even the world.

Hardly accumulated, stable and far away. In the past forty years, Shenzhen has achieved a miracle that has attracted worldwide attention. I believe that in the future, Shenzhen will have greater development and can achieve greater achievements.

Product: Shenzhen CPPCC Shenzhen Evening News Agency

General planning: Lin Jie

Study: Qiao Hengli

Supervision: Yin Changlong King Lei Ye Xiaobin

He cares: Huang Lingling

Unity: Lin Hang Zhao Qing Chen Li

Executive: Wang Shuo Cheng Gong Zheng Shuqi

Writing and writing: Shenzhen Evening News reporter Qiu Zhidong

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