Beijing Stock Exchange’s Revenue Reaches $1.5 Billion on First Day of Dealing

(ECNS) — Beijing Stock Exchange, which launched Monday, witnessed sales of 9.57 billion yuan ($1.5 billion) in its first day of trading, with 10 stocks doubling.

The new exchange, along with the Shanghai and Shenzhen exchanges, will be “an important base for innovative small and medium-sized enterprises (SMEs),” said Xu Ming, president of the Beijing Stock Exchange.

The Beijing Stock Exchange. (Photo: China News Service/Han Haidan)

Yi Huiman, chairman of the China Securities Regulatory Commission, praised it as “another milestone in China’s capital market reform and development”.

“It is also very important in building new development patterns and promoting high-quality growth,” he added at the launch ceremony.

“The Beijing Stock Exchange is important for cultivating ‘little giants’, or startups with high growth potential and advanced technologies,” said Chris Liu, senior portfolio manager at Invesco. In addition, it would further expand direct financing channels for innovative SMEs.

On the first day of trading, shares on the National Equities Exchange and Quotations (NEEQ), or the “new third board,” also received a boost, with 660 newly traded stocks rising 1.87 percent at the innovation level and 528 rising at the base level. on average by 1.17 percent.

Insiders believe that the Beijing Stock Exchange would foster a long-term rational investment environment by adjusting the risk characteristics of innovative SMEs.