The Beijing Stock Exchange made its debut on Monday, November 15, the third Stock Exchange of China continental dedicated to the "little giants".
After Shanghai and Shenzen, this time the spotlight on the market has been focused on Beijing, which was awarded the new index created with the aim of “improving financial support for small and medium enterprises, as well as to promote innovation-related developments,” explained Yi Huiman, chairman of the China Securities Regulatory Commission, during the opening ceremony. Purposes that also meet the policy pursued by the president Xi Jimping, according to which it is necessary to reduce China's dependence on the West and redistribute wealth throughout the country, giving more space to the "small giants", as he himself defined these companies that find it difficult to raise capital because they are too small to be listed on other lists such as the Star board of Shanghai or the ChiNext of Shenzhen.
To access the new index, in fact, you need "only" 200 million yuan, approximately 27 million euros, for a minimum market capitalization.
Since yesterday, the Beijing Stock Exchange hosts 81 company, 71 of which came from the National Equities Exchange & Quotations, an over-the-counter market for smaller companies that has struggled to attract investors. The other 10 listed companies, on the other hand, are debutants who recorded increases of more than 60% on opening day, raising 1,5 billion yuan (235 million dollars) from share sales in the preparation phase. Despite this, the first day of trading ended for the new index with a drop of 0,8% to 3.401,87 points, while in the second the decline was 0,24% to 3.393,71 points.
