According to Vice General Manager Zhou Qinye of the Shanghai Securities Exchange (SSE), the meeting held by the SSE aims to expand the social influence of the XBRL standard for more participation in its application and promotion in China's securities industry. The meeting covers four main topics: (1) XBRL standard's international development and application status quo, (2) XBRL standard's prospect in domestic securities industry, (3) how to promote the comprehensive development of the XBRL standard in China, (4) possible problems and resolutions in the XBRL standard's promotion.

Mr. Zhou shared his two opinions with attendants at the meeting.

Firstly, the introduction and application of the XBRL standard is a major achievement in the SSE's implementation of "strategy orientation and technology breakthrough". The SSE set its strategic goal of "building itself as a world first-class exchange". It has successively engaged many world-class consultancy companies for strategic consultation since 2001, such as The Boston Consulting Group, Inc. and Reuters Group PLC. Furthermore, it timely launched its "three new-generation projects", namely the new-generation website, the new-generation information system and the new-generation trading system. At present, the new-generation website has been put into use, with SSE InfoNet Ltd. established. The new-generation trading system, having finished consultation and definition, will come to implementation in the next phase. The new-generation information system has finished consultation design, with Phase II data warehouse construction to be launched after finishing its Phase I. Moreover, the enterprise data warehouse, the one with the largest data volume and most complete contents on China’s securities market, has been put into use in the SSE.

Secondly, it is important and beneficial to probe into the application of the XBRL standard in the securities industry for improving the transparency of the securities market. Early in May 2002, the China Securities Regulatory Commission formulated the "Electronic Information Disclosure Specification for Listed Companies" and approved the adoption of the XBRL specification. The SSE, with continuous participation in the formulation and application of electronic specification, selected 50 Shanghai-based listed companies for trial application of the XBRL standard in the process of submitting the abstracts of annual reports by listed companies in 2003. After that, XBRL was further promoted when submitting the 1st quarter reports of 2004. Upon the two practices, the SSE has accumulated application experiences and become more confident in the XBRL standard's application in domestic securities industry. It is predicted that the electronic-information-disclosure-related XBRL technology and work will show increasing economic and social value in the near future. All representatives at the meeting are expected to make use of the symposium platform to communicate and learn from each other, thus jointly promoting China's XBRL development to a new height.