The personal investment threshold of the Beijing Stock Exchange is 500,000 yuan

　　There is no capital threshold for institutional investor access

　　Entering September, the Beijing Stock Exchange has become more and more frequent.

Who, how much capital, and what qualifications can invest in the Beijing Stock Exchange?

In response to market concerns, the investment threshold of the Beijing Stock Exchange, which has attracted much attention from investors, has been clear.

　　On September 17, the Beijing Stock Exchange clarified that the capital threshold for individual investors' access was 500,000 yuan in securities assets, and there was no capital threshold for institutional investors' access.

From the date of the release of the rules, investors can make an appointment to open the trading authority of the Beijing Stock Exchange.

At the same time, the capital threshold for innovation-level investors was adjusted from 1.5 million yuan to 1 million yuan, which was announced and implemented on September 17.

　　Investors can apply for an appointment to open an account from now on

　　After the opening of the Beijing Stock Exchange, the entry threshold for individual investors is the average daily securities assets of 500,000 yuan in the 20 trading days before the opening of the trading authority, and at the same time they have more than 2 years of experience in securities investment.

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

At the same time, the Beijing Stock Exchange will adhere to the integrated development and system linkage of the innovation layer and the basic layer of the New Third Board. Investors with the trading authority of the innovation layer and the basic layer of the NEEQ will have the scope of their trading authority to include Beijing Stock Exchange stocks.

　　It should be noted that after the issuance of the rules and before the opening of the Beijing Stock Exchange, investors still need to meet the 1 million yuan securities asset standard to participate in selected-tier stock transactions.

At the same time, for the convenience of investors, investors can apply to the securities company entrusted by them to make an appointment to open the trading authority of the Beijing Stock Exchange.

　　Set out to guide securities companies to formulate and improve systems and procedures

　　In synchronization with the issuance of the rules, the Beijing Stock Exchange has begun to guide various securities companies to formulate and improve the appropriate management system and procedures, orderly promote investors’ reservations for account opening, and do a good job in disclosing investors’ risks. Stable market opening creates good conditions.

　　Previously, in accordance with the original rules of the New Third Board, the selection criteria for the basic layer, the innovation layer, and the selection layer were stricter than those on the first layer.

Different levels of stocks correspond to different thresholds for opening an account. The threshold for opening an account at the select layer is that individual investors must have more than two years of securities investment experience, and the average daily securities assets of the 10 trading days before account opening must be more than 1 million yuan.

　　Based on the original investor threshold of 1 million in the selection layer of the Beijing Stock Exchange, the capital threshold adjusted to 500,000 is a reasonable arrangement after evaluation and research.

Judging from the successful experience of the capital market reform practice, the formation of the market scale and the creation of brand characteristics require the support of the number of investors that match it.

　　Will focus on building a main position to serve small and medium-sized enterprises

　　The relevant person in charge of the Beijing Stock Exchange said that he will focus on building a main position for serving small and medium-sized enterprises. Facing the development of more specialized and new small and medium-sized enterprises in the future, appropriate investor suitability requirements will help the market liquidity level to be in a reasonable and appropriate state.

　　Almost at the same time, the National Equities Exchange and Quotations revised the "Measures for the Management of Investor Suitability in the National Equities Exchange and Quotations for Small and Medium-sized Enterprises" and adjusted the threshold of capital for innovation-level investors from 1.5 million yuan to 1 million yuan.

This move is to realize the integrated development and system linkage of the innovation layer and basic layer of the Beijing Stock Exchange and the New Third Board, better promote the formation of innovative capital, and strive to build a market ecology of early investment, small investment, and innovation.

　　After the selection layer was changed to the Beijing Stock Exchange, a securities asset threshold of 500,000 was implemented, and listed companies all came from the innovation layer.

Therefore, coordinating the overall coordinated development of the Beijing Stock Exchange and the New Third Board market, and strengthening the innovation layer and the basic layer are an important part of improving the whole chain system of serving small and medium-sized enterprises, and it is to promote the formation of progressive small and medium-sized enterprises. The basic requirements for a growth path and a good multi-level market ecology.

　　The New Third Board is an important exploration for the capital market to serve small and medium-sized enterprises. From the exploration and practice over the past eight years, the investor suitability system, as an important basic system for the market, provides a strong guarantee for the stable development of the market and various institutional innovations.

After the implementation of the NEEQ reforms launched in 2019, the entry thresholds for selected, innovative, and basic investors are 1 million yuan, 1.5 million yuan, and 2 million yuan, respectively.

As of the end of August, the scale of investors in the NEEQ has reached 7 times the size before the reform, stimulating market vitality.

　　Text/Reporter Liu Shenliang Co-ordinated by Yu Meiying