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Capital markets provide important channel of financing for Chinese private companies

(People's Daily Online)    16:17, November 15, 2019

China’s capital markets have provided an important channel of financing for private companies, the Securities Daily reported on Nov. 14.

By Nov. 13, among 3,721 listed companies on the Shanghai and Shenzhen stock markets, there were 2,585 private companies, accounting for about 70% of all A-share listed companies, according to the newspaper, quoting data from the financial website eastmoney.com.

In particular, 1,802 private companies was listed on the main boards of the two stock exchanges, 738 on the country’s Nasdaq-style Growth Enterprise Market (GEM) and 45 on the sci-tech innovation board (STAR market), according for 62.33percent, 94.74 percent and 88.24 percent of the total listed companies in respective market.

Besides, the ratio of private companies’ IPOs and refinancing on the GEM exceed 80 percent.

By the same period, the total amount of 136 private listed companies’ IPOs reached 115.5 billion yuan, accounting for 65.2 percent of the total IPOs of all A-share listed companies.

The refinancing amount of these private listed companies totaled 353.7 billion yuan, accounting for 43.7 percent of the total of all A-share listed companies.

The development of capital markets, especially the establishment of the GEM and STAR market, provides an important channel of financing for small and medium-sized enterprises and private companies, said Liu Zhe, vice-president of the think tank WANB Institute.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Web editor: Hongyu, Bianji)

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