Investors watch stocks. Photo: VCG
The high-profile Beijing Stock Exchange conducted a comprehensive technical test with market participants on Saturday, speeding up work to prepare for an impending trade that insiders say could start as early as the end of the year.
The new exchange, built on the basis of a selection of the most competent companies traded within the new third board, is intended to serve as the main platform for small and medium-sized enterprises (SMEs) at the cutting edge of technology.
Saturday’s test, involving securities firms, information providers and fund companies, aims to ensure that all market participants are technically prepared for the opening of the stock exchange, the exchange said on Wednesday in a report. press release published on its website. Another technical test will take place on October 9.
The National Equities Exchange and Quotations, the China Securities Depository and Clearing Corporation Limited, the Shenzhen Securities Communication Co and the China Securities Index Co have partnered with the exchange to set up the test.
According to Li Yongchun, deputy general manager of Beijing Stock Exchange Co, 10 companies fulfilled the criteria set by the listing committee of the Beijing Stock Exchange in addition to those listed on the new third board of directors, at the Zhongguancun forum that s ‘is held in Beijing. .
The selection level of the new third board, now home to 66 companies, with a total value of 849.74 million yuan ($ 131.4 million) as of Friday, is expected to result in the first batch of companies to enter the new stock exchange, according to market watchers. noted.
Zhongguancun Forum 2021 Photo: Chi Jingyi / GT
With the establishment of the Beijing Stock Exchange, the capital has become one of the markets with the most comprehensive financial factors in the world, said Li Yan, deputy director of local financial supervision and administration in Beijing, during from the Zhongguancun Forum.
Beijing benefits from national-level financial supervision and decision-making authorities, including the Office of the State Council’s Financial Stability and Development Committee, the central bank and securities regulators, banking and insurance.
The announcement of the establishment of the Beijing Stock Exchange on September 2 boosted market vitality, Li said.
The stocks selected on the new third board, or National Equities Exchange and Cotations, will automatically be listed on the new stock exchange. The average daily turnover of New Third Board Select shares has increased 2.7 times since September 2, and stock prices are up 34%.
Driven by the Select, the average daily turnover of Innovation and Base stocks increased by a factor of 2.3, while stock prices rose 37%.
The official noted that as of Friday, there were 7,261 companies registered for the new third board, of which 94 percent were SMEs and 70 percent were in advanced and emerging manufacturing industries.
The authority has already felt the enthusiasm of innovative SMEs following the announcement of the Beijing Stock Exchange, adding that one after the other, companies have come to consult the Beijing financial supervisor to consult on how to install on the new purse, according to Li.
“Together with the relevant departments and exchanges, we have organized a series of trainings for companies. More than 100 companies came to the first and the presidents of many companies personally attended the training. They are very curious to know how companies could take advantage of new market opportunities in the future, ”Li said.
She also revealed that there will be more training sessions in the future, including the closest training for unicorn businesses on Sunday.