Number of locally listed companies surpasses 1,000 for the first time

The Shanxi Equity Exchange Center holds a ceremony to mark the listing of a new company on the Jinxing Board. ZHANG JUFENG/FOR CHINA DAILY

Jinxing Board, an equity exchange platform established by the Shanxi Equity Exchange Center, saw the addition of 282 new companies in 2022, bringing the total number of listed companies to 1,048 and breaking the benchmark of 1,000 for the first time.

The local equity exchange platform in Shanxi province was launched in 2016 to serve the fundraising demands for the growth of local companies. The board is also designed to offer coaching for locally listed companies that plan to be listed on China's national equity exchanges.

Officials at the Shanxi Equity Exchange Center said the rapid growth in the number of Jinxing Board-listed companies corresponds to the strong momentum of entrepreneurship in Shanxi. Local statistics show that the total number of market entities in the province exceeded 1 million in 2022, despite the negative influence of the three-year COVID-19 pandemic on the economy.

The officials said the growth of Jinxing Board-listed companies can be attributed to a number of stimulative measures taken by the Shanxi Equity Exchange Center.

For instance, the center optimized and streamlined its approval procedures for the listing. Officials said the addition of 282 companies to the Jinxing Board last year marked its highest growth rate over the past seven years.

The demonstration board, another equity exchange platform at the center, saw the addition of 534 listed companies in 2022, pushing the total number to 2,317.

The demonstration board focuses on serving small and medium-sized enterprises engaged in emerging industries with distinctive characteristics and growth potential. Through coaching and other support services provided by the center, companies meeting certain criteria on the board can be qualified for Jinxing Board listing.

The center has used various intelligent platforms to better serve enterprises that have applied to be listed.

The center's smart financial service platform, for instance, is supported by 237 financial institutions. A total of 3,348 companies, mostly SMEs, have applied for financial services through this platform.

The center has enhanced collaborations with national equity exchanges. As a result of these connections and its successful coaching, a total of 26 companies have been listed on China's New Third Board, or the National Equities Exchange and Quotations.

Zhang Jufeng contributed to this story.