What’s new: China’s top securities regulator has released the final rules that cover issues like information disclosure and corporate governance for the Beijing Stock Exchange, a move that signals the new bourse is on the cusp of opening.
The rules, published after draft versions were released in September, flesh out details on issues ranging from listing standards to which regulators are in charge of what, according to a statement (link in Chinese) released by the China Securities Regulatory Commission (CSRC) on Saturday. The rules will take effect on Nov. 15, indicating that will be the day of the Beijing exchange’s official launch.
The CSRC said its rules, along with the Beijing Stock Exchange’s own ones to regulate itself, establish a regulatory regime that is tailored for innovative small and midsize enterprises (SMEs).
The background: In September, President Xi Jinping announced plans to create the Beijing Stock Exchange, a bourse designed to provide a major fundraising platform for innovative SMEs.
It joins the bourses in Shanghai and Shenzhen as the third national stock exchange on the Chinese mainland. The Beijing Stock Exchange will integrate the listings in the top tier of the National Equities Exchange and Quotations, an over-the-counter stock-trading platform for companies that don’t meet the listing standards of the Shanghai and Shenzhen stock exchanges.
Related: Four Things to Know About Beijing’s New Stock Exchange for Small Companies
Contact reporter Tang Ziyi (ziyitang@caixin.com) and editor Michael Bellart (michaelbellart@caixin.com)
Get our weekly free Must-Read newsletter.
