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China's GEM to Debut Before Year-End
Shenzhen Stock Exchange (SZSE) is in full swing for the launch of China's Growth Enterprise Market (GEM), said SZSE's Beijing Office director Yu Bo in Beijing, adding the time for debut will be moved up.
Yu said the hardware, the second trading system, has been put into operation and the software, drafts of relevant listing rules and management regulations have been finalized. Preparation and construction of both the hardware and software will be finished in October. He said SZSE pledged to launch the GEM before the year-end.
It is learnt the listing rules coincide with earlier medium reports, ie. lowering requirements, fully negotiability and market-based management. Presently, a laws & regulations group organized by China Securities Regulation Commission (CSRC) is fine-tuning and is to finalize the drafts. Meanwhile, SZSE also set up management and publicity groups to speed up preparation.
Yu ruled out rumors that GEM would be launched in October or in the first half of next year. Year-end debut is the new time table, which has been universally affirmed by authoritative sources, Yu said. (Panoroma)
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