The China Securities Regulatory Commission (CSRC) is planning to develop a national over-the-counter stock exchange, according to the Beijing Times. The OTC market would be established after the launch of a proposed growth enterprise market (GEM) in Shenzhen for Chinese start-ups, said CSRC vice chairman Fan Fuchun at the Chinese parliament's annual session earlier this month.
"With the establishment of the OTC [exchange] and the GEM, companies will get more finance-raising options," Fan said. "It will also help both investors and companies get an accurate assessment when making funding decisions, correspondingly reducing the risk." Although he did not disclose a timeframe for the OTC market, Fan said that GEM will be introduced soon after the annual session, which ended last week. CSRC officials declined to elaborate.
|
