With the announcement of the establishment of Beijing Stock Exchange, the capital market has ushered in a new pattern of 30 years. 1990 after the establishment of the Shanghai and Shenzhen stock exchanges, after a lapse of more than 30 years, the mainland market in China ushered in a national stock exchange. The establishment of Beijing Stock Exchange will further promote the development of China's capital market. In addition, it can also provide a financing channel for small and micro enterprises to further focus on the high-quality development of small and micro enterprises. With the establishment of a stock exchange in Beijing, the capital market will better support the internal needs of the development and growth of SMEs. According to the principle of "one orientation", Beijing Stock Exchange will adhere to the market orientation of innovative small and medium-sized enterprises, respect the development law and growth stage of innovative small and medium-sized enterprises, and enhance the inclusiveness and accuracy of the system. The establishment of Beijing Stock Exchange is of great significance. Deepening the reform of the New Third Board is not only a reflection of the development of China's capital market, but also an important portrayal of improving China's multi-level capital market system and helping China's capital market become bigger and stronger. At the same time, after years of development, China has accumulated some experience in the reform of the New Third Board market. Since 20 19, the New Third Board has introduced measures such as continuous bidding mechanism and transfer mechanism, and set up measures such as selection layer, innovation layer and basic layer, which laid a good foundation for the deepening reform of the New Third Board. Therefore, the establishment of the Beijing Stock Exchange has been fully prepared.
Small and medium-sized enterprises can do great things. Small and medium-sized enterprises play an important role in promoting economic growth, scientific and technological innovation and increasing employment. The capital market has always regarded serving the innovation and development of small and medium-sized enterprises as an important mission. In recent years, the quality and efficiency of serving the development of small and medium-sized enterprises have been continuously improved by deepening reforms and improving policies and systems. The Party Committee of the CSRC deeply realized that deepening the reform of the New Third Board and establishing the Beijing Stock Exchange are important measures to implement the national innovation-driven development strategy and constantly cultivate new kinetic energy for development. It is also an important part of deepening the structural reform of the financial supply side and improving the multi-level capital market system, which is of great significance to better play the role of the capital market, promote the integration of technology and capital, and support the innovation and development of small and medium-sized enterprises.
Since 20 19, the new third board market has formed a market pattern of basic layer, innovation layer and selected layer in turn. At present, there are 5,988/1250/66 listed companies on the third floor, with a total share capital of 3,450/1295/108 billion shares respectively. According to the plan of the CSRC, companies listed on the North Stock Exchange and companies with innovation layer will emerge, and the basic floor of the New Third Board will be maintained, and the innovation layer will be integrated with the North Stock Exchange market. The new third edition market will usher in a new historical chapter.