Business
2021.09.05 18:47 GMT+8

Beijing Stock Exchange completes business registration

Updated 2021.09.07 19:00 GMT+8
CGTN

A statue of a bull in Beijing Financial Street, Beijing, China, March 21 2021. /CFP

Beijing Stock Exchange has completed registration with a capital of 1 billion yuan ($155 million), according to the National Enterprise Credit Information Publicity System.

Information on the publicity system website showed that the establishment and approval date of the Beijing Stock Exchange is September 3, and the National Equities Exchange and Quotations (NEEQ) is the only shareholder. The registration authority is the Beijing Municipal Administration for Market Regulation. 

China on Sunday started to solicit public opinion for the detailed operation rules of the new stock exchange. The rules were unveiled on the official website of the NEEQ and involved the procedures of listing, trading and membership management of the new bourse.

The Beijing Stock Exchange will generally continue the trading rules of the NEEQ's selected layer in an effort to embody characteristics of small- and medium-sized enterprises (SMEs) stock trading and ensure the continuity and consistency of market transactions.

The stock exchange will not limit the price change on the first trading day, but trading will be suspended for 10 minutes when stock prices rise by over 30 percent or drop by over 60 percent. Daily trading movements will also be restricted to within 30 percent after the first day of trading.

The newly-listed companies on the Beijing Stock Exchange should originate from innovative companies that have been listed on the NEEQ for 12 months. The price of targeted issuance should be no less than 80 percent of the market price. The target and price of the issuance should be determined through bidding, and ordinary investors are restricted from selling for no less than six months, according to the draft by the China Securities Regulatory Commission.

Read more:

Price limits of China's new stock exchange set to 30%, says regulator

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