ChiNext set for sterling growth
By Lydia Chen |
March 1, 2011, Tuesday
|
Print Edition
Print Edition
CHINA plans a significant expansion of its stock markets where ChiNext, a Nasdaq-style start-up board, is expected to see the number of companies listed on it surge by nearly 10 times by 2015.
The ambitious five-year blueprint aims to draw an average of 300 new firms every year to the securities markets, which include two main boards, a small- and medium-sized enterprises board and ChiNext, an exchange for high-growth start-ups, Securities Times reported today.
ChiNext and the SME will be at the center of the expansion plan, with the number of listed firms on ChiNext to be boosted to more than 1,000 from the existing 183.
ChiNext, which was launched by the Shenzhen Stock Exchange on June 1, 2010, has a total market value of 797.26 billion yuan (US$121.35 billion) by yesterday. The 7-year-old SME, also based in Shenzhen, now has 552 listed firms with an overall value of 3.54 trillion yuan.
The Shanghai A-share market is the biggest board on the mainland with 901 companies listed and a total market value of 18.63 trillion yuan.
Shenzhen hosts the mainland's smaller stock exchange which boasts 485 listed enterprises with a combined value of 4.46 trillion yuan.
The ambitious five-year blueprint aims to draw an average of 300 new firms every year to the securities markets, which include two main boards, a small- and medium-sized enterprises board and ChiNext, an exchange for high-growth start-ups, Securities Times reported today.
ChiNext and the SME will be at the center of the expansion plan, with the number of listed firms on ChiNext to be boosted to more than 1,000 from the existing 183.
ChiNext, which was launched by the Shenzhen Stock Exchange on June 1, 2010, has a total market value of 797.26 billion yuan (US$121.35 billion) by yesterday. The 7-year-old SME, also based in Shenzhen, now has 552 listed firms with an overall value of 3.54 trillion yuan.
The Shanghai A-share market is the biggest board on the mainland with 901 companies listed and a total market value of 18.63 trillion yuan.
Shenzhen hosts the mainland's smaller stock exchange which boasts 485 listed enterprises with a combined value of 4.46 trillion yuan.
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