A ceremony was held for the inauguration of the Beijing stock exchange, which started to operate in the building on Finans Street in the center of the capital.
At the opening, Yi Huiman, Chairman of the China Securities Regulatory Commission, and Cai Chi, Beijing Secretary of the Communist Party of China, rang the first bell to start the proceedings.
The new exchange is the third stock exchange to be launched in mainland China after those in Shanghai and Xinjiang.
81 companies have started to be traded on the stock market, which is aimed at investing in innovation-oriented small and medium-sized enterprises in the growing technology, internet, and services sectors in China.
While 10 of the companies are new to the stock market, 71 companies have been selected from enterprises whose shares are traded on the China National Stock Exchange and Quotation Market (NEEQ), which previously served as an over-the-counter stock market for small and medium-sized enterprises.
Commission Chairman Yi said that the opening of the stock market is a new milestone for the reform and development of China’s financial markets. The stock market aims to promote innovation-oriented development and balanced growth with the financial support to be provided to small and medium-sized enterprises.
Exchange Chairman Shu Ming also stated that the Beijing Stock Exchange aims to create a platform for innovation-oriented SMEs.
President Xi announced that the stock market would be established
In his speech at the China International Services Industry Fair on September 3, President Xi Jinping announced that a new stock exchange would be established in Beijing.
In China, apart from the mainland ones, there is a stock exchange in the Hong Kong Special Administrative Region.