Photo taken on Nov. 15, 2021 shows an exterior view of the office building of the BeijingStockExchange, in Beijing, capital of China. The newly-established BeijingStockExchange(BSE) started trading Monday, marking a key step in China's efforts to deepen capital market reform and support small businesses. (Xinhua/Peng Ziyang)
BEIJING, Nov. 15 (Xinhua) -- A new stock exchange based in Beijing, Beijing Stock Exchange (BSE), opened on Monday, heralding new stage of high-quality development of China's capital market, reported the Xinhua-run Economic Information Daily.
The launch of the Beijing Stock Exchange has been witnessed by the first batch of 81 listed companies and over four million investors, securities and funds companies.
The BSE is intended as a platform to house small and medium-sized companies to raise capital for innovation-drive development. It pledged to implement practical measures and rules to serve high-quality development of China's real economy.
Industrial experts said that the establishment of the BSE will benefit enterprises in three ways. Playing the role of a bourse, it will support enterprises' innovative development underpinned by capital market. It will also accomodate to diversified needs from enterprises with a full-fledged service system. In addition, it will improve the ecology of innovation-driven small and medium-sized enterprises (SMEs) by pooling resources.
Peng Hai with Kaiyuan Securities Co., Ltd told Xinhua that the BSE, designated to bolster the weak link in China's capital market, is poised to serve the innovation-driven SMEs. Enterprises listed on the BSE will be fueled by capital and make more contributions to high-quality development of Chinses economy.
"It is estimated that in the future more institutional investors will join in the bourse, improving its liquidity, enhancing its function of price discovery and driving the investment to innovative firms, fundamantally running a virtuous circle", said Liu Jing, analyst with Shenwan Hongyuan Group.
(Edited by Li Shimeng with Xinhua Silk Road, lishimeng@xinhua.org)
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