China-Singapore Jingwei Client, September 17th (Gao Platinum) On the evening of September 17, the Beijing Stock Exchange issued the "Beijing Stock Exchange Investor Suitability Management Measures (Trial)", which was previously discussed by all parties in the market The investment threshold of the Beijing Stock Exchange has been settled.

  Since the date of the issuance of the rules, investors can make an appointment to open the trading authority of the Beijing Stock Exchange. The capital threshold for individual investor access is 500,000 yuan in securities assets, and at the same time they have more than 2 years of experience in securities investment; there is no access for institutional investors. Capital threshold.

Investors who have opened select level trading authority before the opening of the Beijing Stock Exchange will automatically transfer their trading authority to the Beijing Stock Exchange.

It should be noted that before the opening of the Beijing Stock Exchange, investors still need to meet the previous securities asset standards to participate in selected-tier stock transactions.

  Prior to this, the entry thresholds for selected, innovative, and basic investors were 1 million yuan, 1.5 million yuan, and 2 million yuan, respectively, and the screening levels were distinct.

At the same time that the Beijing Stock Exchange announced the investment threshold, the National Equities Exchange and Quotations simultaneously revised the investor suitability management measures and lowered the investment threshold for the new third board innovation layer investors from the original 1.5 million yuan to 1 million yuan.

  Since the announcement on September 2 that the Beijing Stock Exchange will be established, relevant heavy news has appeared frequently.

This time, the Beijing Stock Exchange officially set a capital access threshold of 500,000 yuan, which is in line with the requirements of the Science and Technology Innovation Board and lower than the market's previous expectations.

The various systems of the Beijing Stock Exchange have moved to the selection layer as a whole. Why should the original investor threshold of 1 million yuan for the selection layer be lowered?

What are the considerations of the Beijing Stock Exchange?

  It is understood that the investment threshold for investors has a direct impact on market transaction liquidity.

By reducing investor suitability requirements, more A-share investors will participate in CBEX transactions, adjust the level of market liquidity, promote the capital market to serve national SMEs and private enterprises, and help more specialized and new SMEs to go public Open up financing channels and promote the construction of a multi-level capital market.

  According to the "Shanghai Stock Exchange Statistical Yearbook 2020" (hereinafter referred to as the Shanghai Stock Exchange Yearbook), as of the end of 2019, the number of natural person investor holding accounts was 23.248 million.

According to the "Shenzhen Stock Exchange Statistical Yearbook 2020" (hereinafter referred to as the Shenzhen Stock Exchange Yearbook), by the end of 2020, A-share investors in Shenzhen Stock Exchange had a total of 247,580,700 personal accounts.

  Among these A-share investors, what is the approximate proportion of investors who meet the threshold of 500,000 yuan of capital after the threshold is lowered?

Since the Shenzhen Stock Exchange has not disclosed relevant data in the yearbook, please refer to the data of the Shanghai Stock Exchange.

According to the Shanghai Stock Exchange Yearbook, by the end of 2019, there were 2,882,400 natural person investors with a stock market value of between 500,000 yuan and 1 million yuan, accounting for 7.46% of the total number of investors of all types, and the total stock market value was 689.3 billion yuan.

(Zhongxin Jingwei APP)

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