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Beijing Sees Increase in Stock Companies
By the end of last May, Beijing had approved the setup of 235 stock companies, with a total capital of 39.3 billion yuan (4.7 billion US dollars), up 28 percent from the end of the last year.
The accelerating establishment of stock companies is largely because of deepening reform of the stock-holding system in state- owned enterprises and is also being pushed by the upcoming creation of the second-board stock market in the country, a senior government official said.
New and hi-tech enterprises and companies wishing to be listed accounted for 70 percent of the 94 stock companies set up last year, involving the fields of biological medicine, infrastructure, real estate, telecommunications, information, energy and environment protection, sources said.
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