Six companies based in East China's Shandong province are expected to be among the first group of enterprises that will be listed on the Beijing Stock Exchange, which China announced on Sept 2 to set up, local media outlets reported.
The six companies from Shandong include Zibo Qilu Huaxin High-tech Co, Weifang Genius Electronics Co, Qingdao Fengguang Precision Machinery Co, and Shandong Wantong Hydraulic Co.
The new exchange is an upgraded version of the National Equities Exchange and Quotations, which is also known as the New Third Board. It is mainly for innovation-oriented small and medium-sized companies selected from the New Third Board, according to China Securities Regulatory Commission.
The 454 Shandong companies listed on the New Third Board attracted 1.12 billion yuan ($173.53 million) in equity during the first half of 2021, according to data from Shandong's securities regulator.
In addition, Shandong is home to 368 "little giant companies", which refer to innovative SMEs, that are included on lists released by China's Ministry of Industry and Information Technology. With the new Beijing exchange, these companies are expected to gain wider access to funds needed to achieve robust development.
