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Shenzhen Stock Exchange Commitment to Tier Market

Shenzhen Stock Exchange Commitment to Tier Market

1. Help main board companies to grow bigger and stronger through listings of holding groups;

2. Strengthen SMEs cultivation and SME Board innovation;

3. Optimize stock transfer system to open up an effective trading platform for non-listed public companies and de-listed companies;

4. Take a pro-active approach on launching the new market in the spirit of newly implemented Securities Law and Company Law;

5. Further new product development in equities and derivatives.


Small and Medium Enterprises Board

The Small and Medium Enterprises Board is designed as an exclusive market segment for s-mall- and mid-caps with pronounced core business, high growth potential and intensive technological contents. The SME Board explores with innovative and customized solutions for small- and medium-sized enterprises in trading, disclosure and stock watch.


SME Board Innovation

To provide investors with assurance in terms of regulation and transparency, the SME Board takes tailor-made initiatives to ensure their protection:

1. Open call auction in pre-opening session is introduced to ward against market manipulation in price formation by allowing greater transparency;

2. Closing prices are determined through last-three-minute call auction;

3. Deviation in volatility, turnover and closing prices is brought into stock watch to curb market abuse;

4. Made obligatory are 1) regular audit raised fund usage compared to publicized investment targets; 2) express corporate results; 3) annual public meeting on corporate financial health and business development; and 4) intermediary credit supervision system.

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