SSE Closes the Loop: 1,778 Survey Responses Lead to Targeted Service Upgrades Under “Three Open-Doors”

The Shanghai Stock Exchange (SSE) has released the results of a 14‑day public questionnaire survey, part of its ongoing “Three Open‑Doors” initiative (Open‑Door Review, Open‑Door Regulation, Open‑Door Service). Rather than a mere exercise in consultation, the SSE has turned the feedback into a closed‑loop delivery mechanism – each of the 200+ substantive suggestions has been assigned, assessed, and acted upon by dedicated business lines.

The survey in numbers

The questionnaire reached a wide cross‑section of market participants: over 2,400 SSE‑listed companies, pre‑IPO firms and bond issuers; 65 institutional investors; 120 securities firms; and more than 100 securities service institutions. The response rate yielded 1,778 valid entries. Market participants proposed over 200 targeted suggestions, focusing on operational procedures, process streamlining, and service upgrading – with a clear undercurrent: “improve overall service efficiency.”

What the SSE heard

The feedback was not filed away. The stock issuance review team has since rolled out a full package of measures to optimise refinancing services, and held dedicated “Three Open‑Doors” training for law firms. Going forward, it will issue regular Review Updates – a periodical that clarifies policy application standards and interprets typical cases in plain, actionable language.

The corporate supervision team now provides listed companies with regulatory briefings and online training courses addressing common compliance pain points and the latest disclosure requirements. The bond business team has set up dedicated communication channels for ongoing bond projects, organised specialised training for bond trustees and traders, and launched service hotlines under the “Three Open‑Doors” framework to resolve industry queries in real time.

Other teams – institutional member services, market training, and information technology – continue to deliver thematic training and use regular business communication channels to interpret policy direction and address market demands promptly.

A look back: three years of open‑door practice

The survey is not a one‑off. Over the past three years, the SSE’s listing review team has conducted more than 1,600 on‑site exchanges and over 100,000 telephone communications with issuers on listing and issuance matters, and responded to nearly 30,000 business inquiries regarding credit bond financing reviews. On the supervision front, more than 50 rounds of regulatory updates have been issued and over 1,100 training sessions organised. On the service front, the SSE’s “Capital Market Service Week” has expanded to cover all 31 provincial‑level regions in China. Its “Xingqihang” online platform has connected with over 500,000 enterprises, while multimedia platforms have received more than 40 million visits. A “One‑stop Online Service” system now offers 487 streamlined services, lifting overall processing efficiency by over 40%.

The unspoken contract

Every piece of feedback, the SSE noted, reflects a measure of trust. The exchange’s response has been methodical: in‑depth assessment across all business lines, followed by targeted measures communicated through dedicated channels. The stated goal is to ensure that every suggestion receives proper follow‑up and resolution – not in principle, but in practice.

Markets evolve, and so must service. The SSE frames its ongoing work around three core objectives – improving work practices through openness, enhancing transparency through openness, and upgrading services through openness. Whether these translate into lasting efficiency gains for issuers and investors will be measured not by surveys, but by the quiet rhythm of faster reviews, clearer rules, and fewer follow‑up calls.