(Yicai) Feb. 5 -- Sha Yan, former general manager of the Shenzhen Stock Exchange, has become the first woman to chair the bourse since it was set up 33 years ago.

Sha, 51, was recently appointed as the exchange’s eighth chairperson, according to its website. Her predecessor, Chen Huaping, was transferred to the China Securities Regulatory Commission last September, where he is now a vice chairman.

Sha was appointed GM in June 2020, a critical period of change at the exchange. During her tenure, its Nasdaq-style Growth Enterprise Market moved to a registration-based listing system from an approval-based process. That was extended to the main board last February.

Before joining the exchange, Sha had worked at the CSRC for seven years, holding various positions, including director of supervision of funds and intermediaries, and deputy director of supervision over listed companies.

The Shenzhen Stock Exchange was officially set up in December 1990 as a venue for smaller, non-state-owned enterprises to raise funds. It began operations in July 1991. The bourse has since added bonds and mutual funds and become part of the stock connect program with Hong Kong.

The exchange had almost 2,850 listed companies as of Feb. 2, with a total market value in excess of CNY25.2 trillion (USD3.5 trillion). Among them, more than 1,510 trade on the main board, and nearly 1,340 on the GEM, per its website.

Editors: Dou Shicong, Emmi Laine