Beijing Stock Exchange and New OTC Market See Growth in 2023
In 2023, the Beijing Stock Exchange and the New OTC Market have seen significant improvements in their operation quality and market functions, leading to new breakthroughs in building innovative service-oriented small and medium-sized enterprise owners. The end of 2023 saw a total of 239 companies listed on the Beijing Stock Exchange, with over 80% being small and medium-sized enterprises, nearly 90% being private enterprises, and almost 50% being national-level specialized, special, and new “little giant” companies. Additionally, there were 326 new companies listed on the New Third Board, marking a year-on-year increase of more than 20%. Furthermore, the total financing of national debt and local government bonds exceeds 3.92 trillion yuan, contributing to the continuous enhancement of the market’s national strategic capabilities in high-level science and technology and modern industrial system.
Efforts have been made to promote the implementation of the “19 In-depth Reforms” of the Beijing Exchange. This includes improving the structure of listed companies, optimizing listing application arrangements, and studying and improving the issuance pricing mechanism. The market also aims to balance investment and financing, expand the team of market makers, and launch credit bond business. Furthermore, the Beijing Exchange aims to create three service brands of “open-door service, direct service, and precise service,” and plans to roll out 18 measures to optimize market services.
In the past year, the Beijing Stock Exchange has systematically promoted the comprehensive implementation of the stock issuance registration system and has strengthened the entire chain and all-round supervision to improve the efficiency of front-line supervision. Additionally, efforts have been made to improve the long-term risk prevention and control mechanism, strengthen the risk classification management of listed companies, and effectively prevent risks in key areas.
Looking ahead to 2024, the Beijing Exchange plans to continue deepening reforms, accelerating the implementation of key reform measures, and strengthening supervision, risk prevention, and development to further consolidate the positive trend of market development.
The developments at the Beijing Stock Exchange and the New OTC Market are crucial in contributing to the building of a financial power and Chinese-style modernization.
(Editor: Li Bo, Gao Xing)