日韩午夜精品视频,欧美私密网站,国产一区二区三区四区,国产主播一区二区三区四区

 

China launches Nasdaq-style market

0 CommentsPrint E-mail Xinhua, October 23, 2009
Adjust font size:

China held a launching ceremony Friday for its Nasdaq-style market, ChiNext, in Shenzhen, Guangdong Province.

The first batch of 28 selected firms will make their debut on Oct. 30 on the Shenzhen-based exchange.

The growth enterprise market (GEM) will boost start-ups of high technology and high growth, said Shang Fulin, chairman of the China Securities Regulatory Commission, at the launching ceremony.

It could help channel social resources to competitive new-born sectors and innovative enterprises, Shang said.

Zuo Xiaolei, chief economist with the Galaxy Securities, told Xinhua that the launch of ChiNext is a historic event in China's capital market and it defines the multi-layer development pattern of the country's capital market.

"It helps connect China's innovation-oriented companies with the country's innovation growth strategy and will definitely bring influences to China's innovation economy," she said.

It took ten years for China to go from mulling the idea of setting up the new board to finally launching it. The market is aimed at helping small and medium-sized Chinese enterprises that have been struggling to raise funds.

He Chengying, General Manager of the Development Research Department with Guosen Securities, said ChiNext improves channels for small business of high growth and high creativity to raise funds.

"It's especially necessary to help the small and medium-sized enterprises to raise funds after the global financial crisis. The time is ripe to launch the new board," He said.

He said high growth was the advantage of the exchange, as was better than the main board.

"Whether a growth enterprise market could succeed has much to do with its indigenous culture. The Nasdaq's success has a lot to do with the United States' immigration culture full of innovation," He said.

"China chose Shenzhen as the GEM's base. The city also boasts immigration culture full of innovation spirit," He said.

Since the 1970s, the GEMs have been an effective way for various countries to support start-ups. A total of 75 GEMs showed up in the world, but only about 40 survived and are active.

"The GEM poses relatively more risks than the main board as the GEM serves enterprises of innovation and growth," Shang said at the launching ceremony.

He Chengying urged the regulator to tighten monitoring and check speculation to protect small investors' interests.

"Many of the companies are oversubscribed," He said.

IPO launches in China have often seen steep price hikes followed by even steeper falls as investors snapped quick profits.

The launch of the new board will not affect the main board as the enterprises are small and the fund-raising volumes are relatively small too, He said.

 

PrintE-mail Bookmark and Share

Comments

No comments.

Add your comments...

  • Your Name Required
  • Your Comment
  • Comments are moderated and generally will be posted if they are on-topic and not abusive.
Send your storiesGet more from China.org.cnMobileRSSNewsletter
主站蜘蛛池模板: 灵寿县| 崇明县| 新干县| 青川县| 延边| 东乌珠穆沁旗| 高青县| 大新县| 贵港市| 唐河县| 大方县| 株洲县| 攀枝花市| 隆回县| 鸡西市| 鹿泉市| 六枝特区| 石河子市| 尼玛县| 拜泉县| 楚雄市| 大冶市| 斗六市| 阜平县| 肃北| 崇义县| 新宁县| 横山县| 清水河县| 嵊州市| 乐陵市| 宁武县| 平利县| 华容县| 韶山市| 垣曲县| 南澳县| 泉州市| 锡林郭勒盟| 突泉县| 保靖县|