China's Nasdaq to debut October 30

08:24, October 19, 2009      

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China's new stock booth for small start-up companies will be officially launched this coming Friday.

The Nasdaq modeled market, or called the Growth Enterprises Market, will be operated by the Shenzhen Stock Exchange and is billed as a way for start-ups and other smaller firms to float shares publicly.

Following a launch ceremony, the first batch of 28 companies will be reviewed for listing, with trade set to begin on October 30, Chinese Securities Regulatory Commission Chairman Shang Fulin said.

Amid wild enthusiasm over the new market, Shang warned that the GEM-listed firms pose greater risks than the Shanghai stocks, including a greater likelihood that their share prices may be "cooked", or manipulated.

Shang aid the companies set to trade on the GEM are less capable of dealing with market risks, given their smaller size.

"Investors should acquaint themselves of the GEM features and their own risk acceptability to decide whether or not participate in the GEM shares trading," the report cited the Shenzhen Stock Exchange as saying.

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