Project Reports on on Stock Exchange

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					Implementing XBRL at SSE


          Gang Zheng
       Director, IT Center
    Shanghai Stock Exchange
           5/16/2005
                  Agenda


 Brief Introduction of Shanghai Stock
  Exchange (SSE)
 XBRL Implementation at SSE
 XBRL-Based Information Product Business
  Model
 Next Step
      Brief Introduction of SSE (1)

 Market Overview
    Number of listed companies:     832
    Market capitalization: about RMB 2.5 trillion

    Number of investors: 36.57 million




                                  By the end of Date 2006-4-12
           Brief Introduction of SSE (2)

 Products
    Stocks (A-shares & B-shares), Treasury Bonds, Corporate Bonds
 Recent products and services
    ETF
    Warrants
    Mutual Funds Distribution Channel
    Open end Bond Repo
    Market data service
 Indices
    SHSE-SZSE 300, SSE 180, SSE 50, SSE Composite, New SSE
     Composite, SSE Dividend ……
                                                         As of 2006-2-7
     Brief Introduction of SSE (3)


 Technology Innovation

           NGTS

                  NGIS


                         SSE portal

                                      3GSS
      Brief Introduction of SSE (4)


A good location for investment
   40 Qualified Foreign Institutional Investors (QFII), with
    combined investment worth US$63.2 billion (as of 2006-
    4-23)
   66% of the listed companies at SSE have commenced
    share reform,which involves 67.85% of the overall
    market capitalization value
   The introduction of Qualified Domestic Institutional
    Investors (QDII) scheme will further facilitate China
    capital market development
         Brief Introduction of SSE (5)

2006-1-1 SSE Composite Closed at 1169.86
2006-5-10 SSE Composite Closed at 1545.69
                  Agenda


 Brief Introduction of Shanghai Stock Exchange
  (SSE)
 XBRL Implementation at SSE
 XBRL-Based Information Product Business
  Model
 Next Step
      XBRL Implementation at SSE

 XBRL Pilot
    XBRL pilot project for listed company’s 2003 annual report
     information disclosure
 XBRL Implementation Phase-1
    XBRL application support text format of annual report
    SSE submitted the application as the Direct Participant
     application and obtained approved
    China Listed Company Information Disclosure Taxonomies
     developed by SSE is granted “Acknowledged” status by XBRL
     International
 Subsequent XBRL Implementation Phases
    XBRL application for fund industry
    XBRL-based application in Data Warehouse
    Web-based XBRL Instance documents query and analysis
               Background


 More than 10 years of listed companies
  disclosure data
 Most data are in the format of hard copy, or
  Word (doc), Excel (xls) and pdf files format
 Difficult to access these information
                  Background


 Regulatory requirements
 Requirements from market participants
   A efficient way to transfer and exchange
    information
   High quality, reusable data
 Requirements from foreign investors
   Data Access
   Data Analysis
                Background


 Objectives of Project
   Establish China’s Taxonomy for all listed companies
   Increase market transparency
   Enhance market efficiency
   Improve investor relationship and protect investor
    interest
   Establish a common language for the financial
    statement
                         Background


 Government support, especially from China Securities
  Regulatory Commission
 External Support
    XBRL International
         XBRL symposium in Shanghai On August 18,2004
         Consultation and training from Mr. Walter Hamscher
      Lido
         Project Vendor
      Pwc
         Agreement with PwC to evaluate project
      Fujitsu
         On site visit to Japan and collaboration with Fujitsu on XBRL
          application
              XBRL Pilot Project


Step by step application
   Listed Company template (fill in the original
    data)
   Exchange’s conversion and check tools
    (screen out errors and convert the data)
   Instance document presentation and analysis
    tool (provide investors an easy way to analyze
    financial reports)
XBRL Pilot Project
                      XBRL Pilot Project


               XBRL   DOC                         XBRL   DOC

   Public                                                        SSE
                            SSE e-Filing System
  Company                                           Check      Work Flow
                                                    Result

                                                     PDF         XBRL
DOC                           SSE Web Site
                                                     XBRL

                                                                 Data
                              XBRL     PDF                     Warehouse
      Public
      Media
                                 Investors
           XBRL Implementation Phase-1


     XBRL-based Listed Company Information Disclosure
                                Year
                                2004
                                                       Year 2004
  Year 2003                     half
                 Year 2004               Year 2004    Comprehen
annual report                  annual
                 Q1 report               Q3 report    sive annual
  summary                      report
                                                         report
                              summar
                                  y

                Year 2005
                Comprehe        Year     Year 2005
Year 2005 Q1                                          Year 2006
                nsive half-   2005 Q3   Comprehen
   report                                             Q1 report
                   year        report   sive annual
                  annual                   report
                  report
       XBRL Implementation Phase-1

XBRL-based Listed Company Information Disclosure (7485 XBRL
Instance Documents)                          •118 instance documents on annual
                                                    report of 2003
                                                    •742 instance documents on 1st
                                                    quarter report of 2004
                                                    •832 instance documents on
                                                    summary half-annual report of 2004
                                                    • 800 instance documents on
                                                    3rdquarter report of 2004
                                                    •839 instance documents on
                                                    comprehensive annual report of
                                                    2004
                                                    • 837 instance documents on 1st
                                                    quarter report of 2005
                                                    • 831 instance documents on
                                                    comprehensive half-annual report
                                                    of 2004
                                                    • 824 instance documents on
                                                    3rdquarter report of 2005
                                                    •831 instance documents on
                                                    comprehensive annual report of
                                                    2005
                                                    •831 instance documents on 1st
                                                    quarter report of 2006
     XBRL Implementation Phase-1

 Solicited feedback from Listed Companies (based on Q1
  report of Year 2004)
 Based on the acceptance of listed companies, XBRL
  instance document will be adopted from Q1 of Year 2006
    XBRL Implementation Phase-1


 The XBRL International Executive Committee
  reviewed and approved the Direct Participant
  application submitted by the Shanghai Stock
  Exchange. It is the first time that a Chinese
  organization joined XBRL International within the
  securities industry.
 XBRL International has granted Acknowledged
  status to the China Listed Company Information
  Disclosure Taxonomies developed by the
  Shanghai Stock Exchange. It is the first taxonomy
  with the “Acknowledged” status in China.
    Subsequent XBRL Implementation Phases


 Making XBRL Fund Data Available
   http://fund.sseinfonet.com/xbrl.shtml
   XBRL-based fund data analysis tools
    Subsequent XBRL Implementation Phases


XBRL-based application in Data Warehouse
     Subsequent XBRL Implementation Phases

Web-based XBRL Instance documents query and analysis tool
http://www.sse.com.cn/sseportal/ps/zhs/fwzc/scfw/xbrl.shtml
      SSE’s Efforts and Progresses
        in XBRL Implementation
          Template-based                      value-added XBRL
        XBRL data collection                application and service


Listed Company                                                        Regulators
                               International XBRL
                                   community
    …




                               Direct membership
Listed Company                                                         Analysts

                                      SSE


 Mutual funds               Semi-structured data                      Investors
                          management and analysis
    …




                                     XBRL                          Information
 Mutual funds                      repository                   Service providers



                 XBRL v2.1 based Taxonomy for the whole industry
                  Agenda


 Brief Introduction of Shanghai Stock Exchange
  (SSE)
 XBRL Implementation at SSE
 XBRL-Based Information Product Business
  Model
 Next Step
          Who is SSE INFONET ?



SSE Infonet is responsible for planning and
implementing SSE’s Internet strategy,
undertaking a supporting role during the course
of SSE’s informatization journey, maintaining
operational rights for proprietary information of
the SSE and developing value-added
information services.
 Listed Company Information Product
          Based On XBRL


 Features
   Include Annual, Half-Year and Quarterly reports
   Both Shanghai Stock Exchange and Shenzhen Stock
    Exchange
   From 2000 to 2006
 Benefits
   Fully automated
   Cost effective
   Faster turnaround time
   More Reliable and More Accurate
   Improved analysis and better quality of information to
    support decision-making
                Target Client


 Information Vendors
    Moved away from costly manual processes
    Cost effective
 Institutional Clients
    Moved away from typically time-consuming comparison,
     assembly and re-entry of data
    Able to focus on information analysis
               Business Model


 For vendors
    Develop value-added products and services
    Fee structure (License fee + Terminal fee)
    Practical User management (with periodic feedback on
     users)
 For Institutional Clients
    Provide direct XBRL data
    Analysis application will not be included
                  Agenda


 Brief Introduction of Shanghai Stock Exchange
  (SSE)
 XBRL Implementation at SSE
 XBRL-Based Information Product Business
  Model
 Next Step
                   Next Step


 Strengthen corporation with XBRL
  International
   Seek approval for the listed companies Taxonomy from
    XBRL International
   Apply for the “Acknowledge” status for Fund Taxonomy
    from XBRL international
                   Next Step


 Develop XBRL-Based Information Product
  Business
   Commercialize XBRL data
   Develop advanced application for end user
                  Next Step


 Embrace advance XBRL application within
  SSE
   XBRL application for ad hoc report
   Further develop XBRL usage for mutual fund
    information
  Thanks!
http://www.sse.com.cn

				
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