TASS reports.
The emergence of the new exchange is of great importance for the integrated development of the national economy and the improvement of the Chinese capital market, the Shanghai exchange said.
The Shanghai site itself has long maintained a cooperative relationship with companies on the construction of an over-the-counter securities market, they added.
The main stock exchanges in China are located in Shanghai, Shenzhen and Hong Kong.
There are also a number of commodity exchanges in China, including Dalian, Zhengzhou and Shanghai.
Earlier, Chinese President Xi Jinping announced the creation of a new stock exchange in Beijing.