Beijing bourse operates smoothly one year on

The Beijing Stock Exchange has operated smoothly and seen improvements in its ability to serve the innovation development of medium-sized and small businesses one year after it began trading, said the bourse.

Launched on Nov 15 last year, the Beijing Stock Exchange now has 123 listed companies and has raised 26.8 billion yuan ($3.8 billion).

Of the bourse's 123 listed companies, medium-sized and small firms account for 77 percent, while private enterprises take up 86 percent.

Most listed firms, including 49 "little giant" companies (small enterprises specializing in niche markets with cutting-edge technologies and great potential), are in sectors of high-end equipment manufacturing, new energy, software, hardware technologies, and new materials.

In the first three quarters of this year, listed companies on the Beijing bourse reported steady revenue growth despite the COVID-19 resurgence and complex international situation.

These firms' combined operating revenue and net profits totaled 73.21 billion yuan and 6.93 billion yuan from January to September, up 33.25 percent and 19.43 percent year-on-year, respectively.

Data from the bourse showed that over 5.2 million investors had opened accounts by Nov 14, including social security funds, insurance funds, and eligible overseas institutional investors.

The Beijing bourse's first benchmark index, a broad-based index comprising 50 representative companies listed on the bourse, will be launched on Nov 21. The index will reflect the overall market performance, the bourse said.

The Beijing Stock Exchange is more inclusive for innovation-oriented small and medium-sized firms with lower listing thresholds, diverse evaluation standards, and a shorter approval time.

It adopts the registration-based initial public offering system, in line with the Nasdaq-style sci-tech innovation board, also known as the STAR market on the Shanghai Stock Exchange, and the tech-heavy ChiNext market on the Shenzhen Stock Exchange.