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Blueprint for Second Board Market Tailored by Yearend
The blueprint for building China's second board market for technology issues has been approved by the State Council and will be pushed out by yearend with relevant legislation and technical arrangements having been fully carried out, as is reported by China News Service.
In the approved blueprint, second-board market has been named as second trade system. As to regulations for the market, calling off requirements for enterprises' payoff record, casting away "double heights" authentication, expanding invisible assets of an enterprise up to 70% and more frequent information disclosure will be demanded. The bottom line for market entry will be lowered to 20 million yuan from 30 million and sum circulation system will be adopted. Meanwhile, adjustments will be made of articles in some laws incompatible to the second market.
Experts pointed out that as a brand-new and relatively independent market, it has fewer problems as the main board in fields like stock issues, market going, trade, supervision, stock share system and investment. Therefore, higher jumping-off point and standard have been eyed for when outlining the blueprint in an effort to meet international routines and to better operate the market.
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