Stocks News
- Govt. may launch growth board
Date: 18-Dec-2007 Sources: (Shenzhen Daily)
THE government would likely launch a growth enterprise board on the domestic stock market in the first half of next year, the China Securities Journal reported yesterday, quoting an unnamed official from the China Securities Regulatory Commission.
Companies to be listed on the board should have a capitalization of more than 30 million yuan (US$4.05 million), the official was quoted as saying.
The report didn't say whether the board would be launched in Shanghai or Shenzhen.
Cheng Siwei, vice chairman of the Standing Committee of the National People's Congress, and Shang Fulin, chairman of the China Securities Regulatory Commission, said at a financial forum earlier this month in Shenzhen that the time was ripe for the government to set up a long-delayed NASDAQ-style growth enterprise board to fund the growth of the country's large pool of start-up companies.
The government began mulling a growth enterprise market in Shenzhen in 1999, hoping to provide a platform for the listing of the country's large number of start-up companies that focus on technological innovation. But the bursting of the dotcom bubble in the United States in 2000 delayed the plan.
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