Latest News:  
Beijing   Sunny    0 / -8   City Forecast

People's Daily Online>>China Business

1st OTC Market To Finance Start-Ups

(Shanghai Daily)

09:01, December 08, 2011

Shanghai will open its first over-the-counter growth enterprise market next week in the Zhangjiang High-Tech Park of Pudong New Area, which will help finance start-ups in the early stage, sources said yesterday.

"We are well prepared for the new OTC market in Zhangjiang. It's soon to open but it still depends on the decision of the China Securities Regulatory Commission," Fang Xinghai, director of the Shanghai Financial Services Office, said yesterday.

Two industry sources, who declined to be identified, said the OTC market will open next week. In the initial stage, 17 firms in the high-tech park will hope to get funding from investors, including government funds and private equity firms, experts said. In this way the start-up firms can be financed through the OTC market in the early stage or before they decide to list on the main board of stock exchanges via initial public offerings.

In the first nine months of this year, 19 Shanghai high-tech firms were listed domestically, up from 15 in 2010.

We Recommend


Leave your comment0 comments

  1. Name


Selections for you

  1. The Year of the Dragon in gold

  2. Sacred temples in Lhasa to receive more pilgrims

  3. China's peacekeeping engineering

  4. Trip to 'Mars' takes its toll

Most Popular


  1. China's post-90s plays greater role in consumption
  2. Falling yuan funds make room for RRR adjustment
  3. Global chaos offers hints of new world order
  4. Playing the anti-China card
  5. Chinese wind power has great potential
  6. 'Diplomatic war' may escalate conflicts
  7. ASEAN benefits from China's WTO entry
  8. Chinese schools need to tune in and chill out
  9. Flexibility for progress
  10. Clear the air today for a brighter future

What's happening in China

Helping poor kids realize their dreams

  1. 11 students injured in S China school bus crash
  2. BJ-SH high rail suspended for malfunction
  3. Forever bike scheme lasts 20 months
  4. Drunk driving accidents in China decrease sharply
  5. Police: 24-yr-old man is blast suspect in C China

PD Online Data

  1. Yangge in Shaanxi
  2. Gaoqiao in Northern China
  3. The drum dance in Ansai
  4. Shehuo in Baoji City
  5. The dragon dance