(ATF) The Chinese government will push the reform of the Shenzhen Stock Exchange’s growth enterprise market (GEM) board and launch a pilot registration system for listing candidates.
The latest moves were aimed at deepening the reform, improving the fundamentals and enhancing the functions of the capital market.
The announcement came after a meeting of a market reform commission chaired by President Xi Jinping, on Monday.
China will create a standardised, transparent and open capital market and push forward the fundamental reforms of issuance, listing, information disclosure, trading and delisting systems of the GEM board.
Meanwhile, China’s National Equities Exchange and Quotations (NEEQ), also known as the “new third board,” has seen a total turnover of 29.8 billion yuan ($4.2bn) since the beginning of the year, according to the exchange.
From April 20 to 24, turnover on the board reached 3.3bn yuan.
As of Friday, a total of 8,652 companies had been listed on the NEEQ.
Launched in 2013, the board is the third national equity trading bourse after the Shanghai Stock Exchange and the Shenzhen Stock Exchange. It is designed for innovative, start-up and high-growth micro-, small- and medium-sized enterprises.
China has outlined a series of reforms to better orient the NEEQ to the needs and features of small enterprises and support high-quality growth of the real economy.