Shanghai Stock Exchange to build service base in Wuxi

The Shanghai Stock Exchange (SSE) signed an agreement with the Wuxi Municipal People's Government on Oct 24 to build its southern Jiangsu base in the city. The base will provide services for the capital market in Wuxi.

The base is expected to improve the quality of listed companies, cultivate listed backup companies, and promote talent cultivation in Wuxi and other cities in southern Jiangsu.

In recent years, Wuxi has been working to encourage more enterprises to go public. With 138 listed companies, the city currently ranks first in East China's Jiangsu province in both total number of listed enterprises and number of newly listed enterprises over the past three years.

WuXi AppTec, a Chinese contract research provider, was listed on the main board of the Shanghai Stock Exchange in May 2018, making it the nation's first unicorn to obtain IPO approval on the A-share market.

Wuxi Mayor Huang Qin said at the opening ceremony that the government should continue encouraging enterprises to go public and should deepen cooperation with the Shanghai Stock Exchange.