(Yicai Global) Dec. 5 -- The Shenzhen Stock Exchange hopes to speed up listings of technology companies, as it will significantly facilitate structural reforms of the Chinese economy, said Wang Jianjun, the market’s general manager said.
The exchange attaches great emphasis on supporting innovations and start-up enterprises. Last year, 130 new companies were listed on Shenzhen’s Stock Exchange and 101 were listed by the end of November this year. “It’s a relatively good time, especially for technology firms applying for listing on the Growth Enterprise Market.
The amount of financing applied for by every company is only CNY200 to CNY300 million (USD 29 to USD 43.5 million).”
“Furthermore, the exchange offers strong support for re-financing projects conducted by listed companies, especially for mergers and acquisitions. So far in 2016, 433 companies have carried out major business restructuring on the Shenzhen market, totaling nearly CNY 600 billion. Efforts to push forward structural reforms through the capital market have achieved significant results.” Wang said.