One year on, Beijing Stock Exchange bolsters development of SMEs

The Beijing Stock Exchange is already one year old. The bourse, which adopts the registration-based initial public offering system, was initiated at the China International Fair for Trade in Services on Sept 2 last year and started trading on Nov 15. It has become an accelerator, turbo-charging the growth of innovation-oriented small and medium-sized enterprises.

As of Sept 2, a total of 110 companies have been listed on the exchange, with a total market capitalization of nearly 200 billion yuan ($28.84 billion).

At present, small and medium-sized enterprises account for 77 percent of the listed companies, and private enterprises account for 90 percent.

More than 80 percent of the listed companies are from strategic emerging industries and advanced manufacturing, covering industrial materials, information technology and healthcare industries.

Among the listed companies, 23 have been recognized by the Ministry of Industry and Information Technology for their special roles in a niche sector, high market share and innovative capacity.

These listed companies have raised over 23.5 billion yuan through their initial public offerings, which averages 210 million yuan for each firm.

Nearly 80 percent of the raised funds went for innovative sectors such as green low-carbon, digital economy, high-end equipment manufacturing and new material.

The bourse has seen more than 5.13 million investors. Three qualified foreign institutional investors and two renminbi qualified foreign institutional investors have participated in BSE trading.

The average daily turnover of trading reached 1.03 billion yuan as of Aug 25. According to the bourse, it took an average of 140 days for a project's IPO auditing and approval on the BSE.

During the first half of this year, 90 percent of listed companies reported profits. These companies had nearly 44.15 billion yuan in revenue, while their net profits totaled 4.28 billion yuan.