Policy to further support innovative SMEs

China set up the Beijing Stock Exchange on Sept 3, aiming to build it into a major base for serving innovative small and medium-sized enterprises.

With 1 billion yuan ($154.73 million) in registered capital, the Beijing Stock Exchange started trading on Sept 15, with the first group of 81 companies debuting on the bourse.

The launch of the BSE is another effort made by the Chinese government to incentivize financial institutions to invest in SMEs after setting-up the STAR Market in Shanghai in 2019 and ChiNext in Shenzhen in 2009.

STAR Market in Shanghai focuses on hard technology and national strategies. ChiNext in Shenzhen is an integration of traditional industries and new technologies, industries as well as business models.

Sources: Cyberspace Administration of China, Xinhua, China Daily, CGTN