Beijing Stock Exchange officially opens

On September 2, 2021, General Secretary Xi Jinping announced in his speech at the 2021 China International Fair for Trade in Services Global Services Trade Summit: “We will continue to support the innovative development of small and medium-sized enterprises, deepen the reform of the New OTC Market, and establish the Beijing Stock Exchange. Create a platform for innovative service-oriented small and medium-sized enterprise owners.”

On September 3, 2021, the Beijing Stock Exchange ("Beijing Exchange") was registered and established. It is my country's first corporate stock exchange approved by the State Council and is subject to the supervision and management of the China Securities Regulatory Commission. The business scope includes providing venues and facilities for centralized securities trading in accordance with the law, organizing and supervising securities transactions, and securities market management services.

On November 15, 2021, the Beijing Stock Exchange (referred to as "Beijing Exchange") held an unveiling and market opening ceremony. At 9:30 a.m., Beijing Municipal Party Committee Secretary Cai Qi and China Securities Regulatory Commission Chairman Yi Huiman jointly unveiled the Beijing Stock Exchange and rang the bell to open the market.

During the construction process, the Beijing Stock Exchange will focus on the following principles:
Stick to “one positioning”. Beijing Stock Exchange will firmly adhere to the market positioning of serving innovative small and medium-sized enterprises, respect the development rules and growth stages of innovative small and medium-sized enterprises, and improve the inclusiveness and accuracy of the system.

Handle the "two relationships" well. First, the Beijing Stock Exchange, the Shanghai and Shenzhen Stock Exchanges, and regional equity markets adhere to coordinated development and interconnection, and play a better role in listing. Second, the existing innovation layer and basic layer of the Beijing Stock Exchange and the New OTC Market insist on overall coordination and institutional linkage to maintain the balance of the market structure.

Achieve "three goals". The first is to build a set of basic institutional arrangements covering issuance and listing, trading, delisting, ongoing supervision, investor suitability management, etc. that are in line with the characteristics of innovative small and medium-sized enterprises, so as to enhance the multi-level capital market's ability to develop inclusive finance. The second is to unblock the linking role of the Beijing Stock Exchange in the multi-level capital market and form a mutually complementary and mutually reinforcing direct financing growth path for small and medium-sized enterprises. The third is to cultivate a group of specialized small and medium-sized enterprises to form a healthy market ecosystem with high enthusiasm for innovation and entrepreneurship, active participation of qualified investors, and responsible intermediaries.

The establishment of the Beijing Stock Exchange is a new major strategic deployment to better serve the capital market, build a new development pattern, and promote high-quality development. It is an important measure to implement the national innovation-driven development strategy and continue to cultivate new development momentum. It is also an important step to deepen the The structural reform of the financial supply side and the improvement of the multi-level capital market system are important elements for better utilizing the functions of the capital market, promoting the integration of technology and capital, and supporting the innovative development of small and medium-sized enterprises.

The Beijing Stock Exchange officially opened on November 15, 2021. The first batch of 81 stocks opened for trading, 10 of which were new stocks, covering 25 major industries of the national economy, 17 specialized and new "little giant" companies, and new stocks. There is no price limit on the first day of listing.

The establishment and inauguration of the Beijing Stock Exchange can meet the inherent needs of the capital market to better support the development and growth of small and medium-sized enterprises; it is an inevitable requirement for the implementation of the national innovation-driven development strategy; it is also an important measure to comprehensively deepen the reform of the capital market in the new situation. This is another important landmark event in the reform and development of my country's capital market.

Boshuo Technology would like to congratulate the Beijing Stock Exchange on its official opening! I wish the capital market will develop better and better!