Sino-Singapore Jingwei (Lin Jian) opens on November 15th!
On November 15, 2021, the Beijing Stock Exchange (hereinafter referred to as the "Beijing Stock Exchange") officially began operations.
At 9 am on the 15th, a reporter from China-Singapore Jingwei came to the office of the Beijing Stock Exchange-Jinyang Building, Financial Street, Xicheng District, Beijing. There were many citizens outside the building waiting for the opening of the Beijing Stock Exchange.
Beijing Stock Exchange Source: Photo by Lin Jian, Sino-Singapore Jingwei
All 10 new stocks trigger temporary suspension
On the first day of the Beijing Stock Exchange, the first batch of 81 listed stocks were listed, of which 71 were selected-level translation stocks, and 10 new stocks were listed on the first day.
Specifically, the 10 new stocks collectively opened sharply higher. Among them, N Concentric rose nearly 400%, and N Zhisheng, N Dadi, and N Jingsai rose more than 200%.
As of 9:37, the CBEX’s new shares have increased by 30% from the opening price, and N Concentric, N Dadi, N Jingsai, N Hanxin, N Guangdao, and N Henghe have all triggered temporary suspensions.
According to a report in the Securities Daily, Xu Ming, chairman of the Beijing Stock Exchange, stated at the unveiling and opening ceremony of the Beijing Stock Exchange that the vitality of the Beijing Stock Exchange lies in its characteristics.
Xu Ming introduced that the key to forming characteristics is to accurately grasp market positioning under the framework of a multi-level capital market, and continuously improve the fit and adaptability of the market and innovative SMEs.
Focusing on the ambitious goal of creating the main position of service-innovative SMEs, we will actively explore the establishment of a policy system, institutional system, and service system suitable for the innovative development of SMEs, and continue to work hard in four aspects:
One is to be more tolerant.
Make innovative SMEs more convenient and smoother, and expand service coverage.
The second is more precise.
Focus on the pain points and difficulties of innovative SMEs in financing, talent introduction, resource integration, etc., optimize targeted institutional arrangements, and enhance the sense of enterprise gains.
The third is to be more innovative.
On the basis of following the general rules of exchange construction, actively explore innovations in financing methods, trading products and tools to facilitate the connection of investment and financing.
Fourth, it is more dynamic.
Converge policies from all parties, broaden the scope of the market, tap the depth of the market, introduce diversified funds, cultivate characteristic intermediaries, improve investor suitability management, and create a good market environment for the better and faster development of innovative small and medium-sized enterprises, and provide investors and all parties in the market. Create a positive market culture.
How can investors participate?
The establishment of the Beijing Stock Exchange is a historic moment in China's capital market reform.
On September 2, 2021, the top executives announced that they "will continue to support the innovative development of small and medium-sized enterprises, deepen the reform of the new third board, establish the Beijing Stock Exchange, and create a main position for service-oriented innovative small and medium-sized enterprises."
As of November 12, more than 2.1 million investors have made appointments to open the CBEX qualified investor rights, and it is estimated that more than 4 million investors can participate in CBEX transactions.
In addition, a total of 112 securities companies have become full members of the Beijing Stock Exchange.
According to the trading rules, 10 listed companies from the innovation layer of the New Third Board will have no price limit on the first day of listing on the Beijing Stock Exchange, and the 71 stocks listed on the selected layer will be listed on the Beijing Stock Exchange, which will be implemented on the day of market opening 30% price limit.
In terms of stock abbreviations, the stock and securities abbreviations are in principle selected from company names.
Among them, on the first day of stock listing, the first character of the stock abbreviation should be changed to "N", and other characters should be selected from the company name in principle.
If a listed company’s stock is subject to a delisting risk warning, the first three characters of its securities abbreviation shall be changed to "*ST", and other characters shall be selected from the company name in principle.
Sino-Singapore Jingwei noted that 81 stocks were traded on the first day of the Beijing Stock Exchange, 10 of which were new stocks and 71 were selected-tier translation stocks.
Among them, there will be no ups and downs on the first day of IPOs, and 71 selected-level translation stocks will continue to implement a 30% up and down limit.
Regarding investors, in accordance with the relevant regulations such as the entry threshold for individual investors issued by the Beijing Stock Exchange, the daily assets in the securities account and capital account shall not be less than 500,000 in the 20 trading days before the opening of the trading authority of the Beijing Stock Exchange. Yuan, and have more than 2 years of experience in securities trading.
According to the business fee management measures announced by the Beijing Stock Exchange, investors' transaction handling fees are charged bilaterally at 0.5‰ of the transaction amount.
The transaction handling fee for the transfer of shares by agreement is charged bilaterally at 0.5‰ of the transaction amount, with a maximum of 100,000 yuan per one-way.
If there is no transaction amount or the transaction amount per share is lower than the par value of each share, the total par value of the transferred shares shall be calculated and collected.
Convertible corporate bonds are charged according to the standard of common stock handling fee halved.
According to Sino-Singapore Jingwei's understanding, unlike the Shanghai and Shenzhen Stock Exchanges, the Beijing Stock Exchange does not need to allocate market value, which means that there is no need to have stock positions, but full payment and freezing of funds are required.
If the investment threshold of the Beijing Stock Exchange is not met, investors can choose the fund to participate in transactions on the Beijing Stock Exchange.
Sino-Singapore Jingwei noted that recently, the China Securities Regulatory Commission approved the registration of 8 Beijing Stock Exchange-themed public offering funds.
The Beijing Stock Exchange's theme public offering fund adopts a two-year regular open operation method, and it is agreed that more than 80% of the non-cash fund assets will be invested in the stocks of the Beijing Stock Exchange, which can bring incremental long-term capital to the Beijing Stock Exchange.
Dong Dengxin, director of the Institute of Financial Securities, Wuhan University of Science and Technology, told Sino-Singapore Jingwei that from the New Third Board to the Beijing Stock Exchange, to the ChiNext and the Science and Technology Innovation Board, this is a multi-level, interconnected and innovative market system, especially for the Beijing Stock Exchange. The establishment of the stock exchange marked a milestone in the inclusiveness and openness of the A-share market.
It is foreseeable that the degree of marketization of the Beijing Stock Exchange will be much higher than that of the Shanghai and Shenzhen Stock Exchanges, and the investor structure will also be more institutionalized.
Chen Li, chief economist of Chuancai Securities and director of the research institute, told Sino-Singapore Jingwei that the establishment of the Beijing Stock Exchange is expected to revitalize the NEEQ market, inject liquidity into the NEEQ market, and help small and medium-sized enterprises achieve financing.
In addition, most companies on the New Third Board are start-ups with a relatively small overall scale and good growth potential. The previously established selection layer of the New Third Board will serve as a hub, providing a steady stream of fresh blood for the GEM and the Sci-tech Innovation Board, prompting The stock market continues to prosper and develop.
The Beijing Stock Exchange stated that the next step will be in accordance with the unified deployment of the China Securities Regulatory Commission, focusing on the main body of serving small and medium-sized enterprises, firmly grasping the key to supporting innovation and development, always focusing on the direction of building a "main position", and promoting the implementation of various systems. , To contribute to the high-quality development of the real economy.
(Zhongxin Jingwei APP)
(The opinions in the article are for reference only and do not constitute investment advice. Investment is risky and you need to be cautious when entering the market.)
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