Chinese securities regulators aim to open a new stock market in the first half of 2008, aimed at growth enterprises, Shang Fulin, Chairman of the China Securities Regulatory Commission, has announced.
No further elaboration was provided, according to Chinese state media,
although previous reports have suggested that the new exchange is
intended to be a NADSAQ-style growth enterprise bourse to assist small
start-ups, especially high-growth, high-tech firms, to raise capital.
The new stock market is viewed as the next step in the evolution of
China’s still-nascent financial market system. On 9 January, gold
futures debuted in Shanghai – the fifth new futures product approved by
the government last year, after zinc, rapeseed oil, polyethylene and
palm oil.
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