Market highlights丨The main institutional rules have landed, and all the beijing exchanges are expected to open for trading on November 15

The highly anticipated Beijing Stock Exchange (hereinafter referred to as the Beijing Stock Exchange) has basically fixed the opening time.

On October 30, the CSRC officially issued 4 basic business rules and 6 supporting rules and guidelines related to the listing and review of the Beijing Stock Exchange, which means that the system rules for enterprises to issue and list on the Beijing Stock Exchange are basically complete. These business rules will be officially implemented from November 15, 2021, and the industry generally expects that the opening time of the Beijing Stock Exchange may be set for November 15.

Industry insiders said that the rules of the Beijing Stock Exchange are mainly translated from the selected layer of the New Third Board. It can be seen from the rules released this time that in terms of public offering and listing, the overall translation selection layer's promotion criteria such as profitability, growth, market recognition, and R&D capability are used as listing conditions to maintain inclusiveness and accuracy; equity incentives implemented in accordance with the law during the listing period of the New Third Board can continue to be implemented after listing on the Beijing Stock Exchange, and the arrangements such as restriction of sale and exercise of rights remain unchanged.

The Opening of the Beijing Stock Exchange, more than 68 companies in the selected layer market of the New Third Board will all be translated into the Beijing Stock Exchange.

According to statistics, there are currently 68 selected layer companies distributed in the pharmaceutical, machinery and equipment, new materials, information technology and other industries. Judging from the third quarter report of this year, the overall performance of 68 selected layer companies in the third quarter was good, and 66 companies achieved profitability, of which 45 had a net profit attributable to their mothers of more than 30 million yuan, accounting for 68.18%; 8 had a net profit attributable to their mothers of more than 100 million yuan.

It is worth noting that the lower entry threshold for individual investors on the Beijing Stock Exchange may alleviate the previous liquidity problems of the New Third Board. According to the previously announced investor access rules, individual investors participating in trading on the Beijing Stock Exchange only need to meet the entry threshold of "assets in securities accounts and capital accounts in 20 trading days are not less than RMB 500,000 per day", which is further reduced from the requirement of 1 million yuan in the select layer.

Caixin Securities pointed out that since the announcement of the establishment of the Beijing Stock Exchange on September 2, the preparatory work before the listing of the Beijing Stock Exchange has been accelerated. Driven by the relevant policies of the Beijing Stock Exchange, it will benefit securities companies and venture capital enterprises for a long time.

At the opening of today's market, affected by the news that the North Stock Exchange is about to open, the concept of the North Stock Exchange has risen in the front. As of press time, Zhongguancun, Beijing Investment Development and other ups and downs, Shenwan Hongyuan, China Galaxy and others rose more than 5%.

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