China will further strengthen the role of market function in serving the real economy while guarding against capital idling and risk accumulation, according to Yi Huiman, chairman of the China Securities Regulatory Commission.
Facing multiple challenges including the epidemic, rising commodity prices and disrupted supply chains, small and medium-sized enterprises (SMEs) are having a hard time, and extending support to foster their development is a major task for global economic recovery, Yi noted.
He pledged efforts to deepen reforms of the New Third Board, set up the Beijing stock exchange and speed up fostering a full-chain institutional system for the capital market to serve the innovation and development of SMEs.
As part of efforts to deepen reforms of the New Third Board, China recently announced the decision to set up the Beijing stock exchange.
Built upon the New Third Board, the Beijing bourse will host eligible companies traded on the equity exchange platform and pilot the registration-based IPO system.