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People's Daily Online>>China Business

Shanghai Equity Exchange opens

By Xie Weiqun (People's Daily)

16:27, February 17, 2012

Edited and translated by People's Daily Online

The Shanghai Equity Exchange opened on Feb. 15 with 19 listings. As part of a uniformly regulated over-the-counter (OTC) market, the exchange will serve as an equity trading platform for high-tech start-ups and other small and medium-sized non-public companies based in Shanghai, the Yangtze River Delta, and other regions, in a bid to enhance Shanghai’s capability to serve the real economy.

Unlike existing stock exchanges in the country, the Shanghai Equity Exchange is a non-open market for particular types of investors to conduct equity trading and private placement. Active efforts have been made to promote the innovative development of the exchange, which is focused on serving small and medium-sized technology companies in high-tech industrial parks.

The exchange will encourage cooperation between start-ups and commercial banks as well as insurance companies, in order to promote the establishment of a diversified financial system in Shanghai.

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