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Second Board Predicted to Be Set Up in Shenzhen This Year
China is currently making the regulations for the second board and will set up the technology-heavy stock market in Shenzhen either late this year or early next year, Li Decheng, vice-mayor of Shenzhen revealed Monday.
He said that Shenzhen is learning from Nasdaq's experience. A high level manager from Nasdaq recently visited Shenzhen to explain how Nasdaq works.
As for whether Shenzhen's stock market would merge with the Shanghai stock market, Li said that there would be a transition period for the merger. They won't immediately merge the two stock markets right after the second board is set up.
"The second board will mainly be used to give mid- and small-sized enterprises, especially mid- and small-sized technology firms, an opportunity to go public and raise funding," Li said.
The restrictions on the second board won't be as tight as the stock markets in Shanghai and Shenzhen.
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