Support for emerging firms planned
Print Edition
THE Shanghai Stock Exchange is considering setting up a strategic emerging industry board to better serve domestic high-growth and innovative enterprises, a top executive said yesterday.
The Chinese stock markets have more traditional types of industries represented, said Huang Hongyuan, the SSE general manager, adding that its support for emerging industries is not enough.
That’s why many domestic emerging enterprises engaged in the Internet, new energy and bio-medicine sectors listed overseas in the past decade, said Huang.
The new board will cater for companies like Xiaomi, with a short business record but strong profitability, and JD.com and Sina Weibo which may be weak profitability but are innovative business models, as well as the Commercial Aircraft Corporation of China, with no profit record so far but with huge assets and promising prospects, he said.
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