China's Nasdaq-style GEM starts trading

10:10, October 30, 2009      

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Delegates of the first batch of 28 selected firms for China's ChiNext pose for photos during the listing ceremony in Shenzhen, south China's Guangdong Province, Oct. 30, 2009. China's Nasdaq-style market, ChiNext, made their debut Friday on the Shenzhen-based exchange.(Xinhua/Peng Yong)

Twenty-eight small and medium-sized enterprises Friday started trading their shares at China's Nasdaq-style market, ChiNext, in Shenzhen, Guangdong Province.

Huayi Brothers Media Corp., a movie producer, soared the most, up 122.74 percent from its IPO price, to open at 63.66 yuan per share.

Zhongyuan Huadian Co. Ltd. increased the least by 46.26 percent from its IPO price to open at 47 yuan per share.

ChiNext was expected to provide more fund-raising channels for small and medium-sized businesses of high technology and high growth.

The central bank and the whole financial system will consistently support ChiNext, said Zhou Xiaochuan, governor of the People's Bank of China, the central bank, at the trade opening ceremony.

Source: Xinhua

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