China News Agency, Beijing, September 3rd. Comprehensive news: Chinese President Xi Jinping announced on the 2nd in his speech at the China International Trade Fair in Services Global Service Trade Summit that he will continue to support the innovation and development of SMEs, deepen the NEEQ reform, and establish Beijing Securities. Exchanges, to create the main position of service-innovative small and medium-sized enterprises.

Many international media have paid close attention to this.

　　Reuters quoted a statement issued by the China Securities Regulatory Commission on the evening of the 2nd as saying that the establishment of the Beijing Stock Exchange will help deepen the structural reform of the financial supply side and improve the multi-level capital market system.

The BBC quoted a statement saying: "SMEs can do great things."

　　According to Singapore’s Lianhe Zaobao, there are currently two large stock exchanges in mainland China, namely the Shanghai Stock Exchange and the Shenzhen Stock Exchange.

Reuters previously quoted sources as saying that China is considering establishing a new stock exchange with the aim of attracting overseas listed Chinese companies to return and improving the global status of China's stock market.

　　According to the report, the China Securities Regulatory Commission stated that it will build the Beijing Stock Exchange on the basis of the existing NEEQ selection layer to further enhance the ability to serve small and medium-sized enterprises and create a main position for serving innovative small and medium-sized enterprises.

The China Securities Regulatory Commission stated that the construction of the Beijing Stock Exchange and the implementation process will focus on several principles, including handling the "two relations."

First, the Beijing Stock Exchange, the Shanghai and Shenzhen Stock Exchanges, and the regional equity markets insisted on dislocation development and interconnection, and played a better role of listing on the transfer board.

The second is that the existing innovation layer and basic layer of the Beijing Stock Exchange and the New Third Board insist on overall coordination and system linkage to maintain a balanced market structure.

　　According to reports, the New Third Board, also known as the National SME Share Transfer System, is China's first corporate securities trading venue and the third national securities trading venue after the Shanghai Stock Exchange and the Shenzhen Stock Exchange.

The National Small and Medium-sized Enterprise Share Transfer System Co., Ltd. is its operating organization. It was officially inaugurated and operated on January 16, 2013, and registered in Beijing.

　　The Agence France-Presse report quoted analysts as saying that China is currently trying to attract domestic companies to list domestically rather than overseas.

　　The British "Financial Times" reported that the announcement of the establishment of the Beijing Stock Exchange is the latest effort in China's long-term plan to develop domestic capital markets.

Rory Green, head of China Studies at TS Lombard, an independent investment research organization, said that this is a clear example of Beijing seeking to make the market serve the real economy, especially its long-term development goals.

Green said that for investors, the new stock exchange "highlights the positive side of Chinese government intervention."

　　In addition, Bloomberg News quoted the content of the speech saying that China will increase the level of openness, promote the implementation of the cross-border service trade negative list nationwide, and explore the construction of a national service trade innovation development demonstration zone.

　　The Reuters report noted that the speech also stated that China will expand the space for cooperation and increase its support for the development of the service industry in the "Belt and Road" countries.

　　Japan’s Kyodo News reported that China, as the world’s second largest economy, is striving to develop infrastructure and trade in Asia, Europe and Africa through the “Belt and Road” initiative.

The report quoted the content of the speech saying that China will increase its support for the development of the service industry in countries under the “Belt and Road” initiative, and will adhere to open cooperation, mutual benefit and win-win results, and share development opportunities in service trade, so as to promote the recovery and growth of the world economy.

The report also pointed out that under the new crown epidemic, China is the only major economy in the world to achieve positive growth in 2020.

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