The main priority of a world-class stock exchange is “supervision,” said Wu Qing, director of the Shanghai Stock Exchange, during an interview with Caixin.

“The exchange is at the forefront of the capital market,” said Wu. “It has the obligation to maintain market order and stability for the market to have the most abundant and timely data, information resources and a strong technical force. Therefore, the priority of the exchange should be given to supervision.”

Exchanges in recent years, especially during the abnormal fluctuations in the stock market in 2015, are all strengthening front-line regulations. Take Shanghai Stock Exchange for example, nearly 2,000 regulatory letters have been issued to listed companies since 2016.

On the issue of “delisting,” Wu said that with the normalization of IPOs and the improvement of the restructuring system, the reform of the delisting system will be “unswervingly promoted.”

Regarding opening up to the outside world, Wu said that the move may bring about some cross-border financial risks. However, the globalization of economy and finance is “inevitable,” thus the market must be open “in an orderly manner.”

“The Shanghai Stock Exchange is still studying synergies with the London Stock Exchange,” Wu said. “Our people often go over there and their people often come in, but the specific timetable is not yet available.”