ChiNext raises 117 bln yuan for 153 companies by 2010

13:35, January 09, 2011      

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Companies listed on China's Nasdaq-style ChiNext board have raised 116.75 billion yuan (17.61 billion U.S. dollars) since the board's creation in October 2009, Shang Fulin, chairman of the China Securities Regulatory Commission, said Saturday.

By the end of 2010, 153 companies have been listed on the ChiNext board, with combined market capitalization of 736.5 billion yuan.

Moreover, 17.79 million investors have opened ChiNext trading accounts, Shang said at the 15th China Capital Market Forum held in Beijing.

"ChiNext, China's main market for start-ups, has been very supportive of the development of high-growth enterprises and companies in the strategically important emerging industries, since its creation a year ago," Shang said.

The board had 139 high-tech companies by the end of 2010, which accounted for more than 90 percent of its total listed enterprises.

During the first three quarters of 2010, ChiNext-listed companies reported a 26.93 percent year on year rise in profits on average, and their business revenue jumped 36.49 percent, Shang said.

China will strengthen supervision of the ChiNext board and crack down on all types of irregularities to protect investors' interests, Shang added.

Source: Xinhua
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