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China: Support for Emerging Firms Planned
Source: news.cn
Source Date: Sunday, March 23, 2014
Focus: Electronic and Mobile Government
Country: China
Created: Mar 25, 2014

The Shanghai Stock Exchange (SSE) is considering setting up a strategic emerging industry board to better serve domestic high-growth and innovative enterprises, a top executive said Sunday.

Chinese capital market has more consideration of the features of traditional industries in its framework and system design, said Huang Hongyuan, the SSE general manager, adding that its support to emerging industries is not enough.

That's an important reason for many domestic emerging industry enterprises engaging in sectors of Internet, new energy and bio-medicine to get listed overseas in the past decade, said Huang.

The new board will cater for companies like Xiaomi, with short business records but strong profitability, and JD.com and Sina Weibo, with weak profitability but innovative business models, as well as Commercial Aircraft Corporation of China, with no profit record so far but with large amount of assets and a promising prospect, he said.

SSE, established in 1990, is one of the two stock exchanges in China's mainland. As of the end of 2012, there were 954 listed companies in the exchange.

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