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Second Board Makes Debut in Summer: Shenzhen Vice Mayor
The Growth Enterprise Market (GEM) of Shenzhen will definitely be launched within the year, said vice mayor of Shenzhen Guo Rongjun Friday at a listing ceremony. However, the central governor has not set an actual time for the launch. He expected the GEM would make its debut between July to September. Guo believed the launch of Shenzhen GEM will be a competitor to the Hong Kong GEM, but progress comes along with competition.
He revealed that the relevant trading regulations had not passed the examination of the authorities, and many companies from different provinces have submitted their listing applications. But he did not give any detailed figures and the expectation of the numbers of listed companies in the first year. Guo then expressed Shenzhen GEM would accept the listing application of companies from Hong Kong, but if any Hong Kong company has submitted an application was not mentioned.
As for whether the launch of Shenzhen GEM would bring competition to that of Hong Kong, he said competition would always exist in a free market, but no competition, no progress. What's more, the two GEMs can communicate on many aspects such as the operational rules and management experience. He believed the enormous market allows the co-existence of two GEMs.
Source: Panorama
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