on the enterprise, the three new board and the four board market services overlap, that is, small and micro enterprises. Of course, there are also many large companies choose to list three new board, such as brokerage, the central rate of subsidiaries, local state-owned enterprises, the demolition of VIE companies. Since the threshold of the new board just need to cross a small package, why the number of listed companies is still lower than that of the four new three board market
Bloomberg likes to make big news.
December 2, 2016, Bloomberg quoted informed sources as saying that the Commission has formulated a complete Chinese of regional equity market regulation, the State Council and wait for approval, will allow some new board companies listed on the new board.
Peng Bo did not make too much of the news quoted. But according to informed sources that, the new four Board companies listed on the new board, or equivalent to the transfer plate concept.
currently China capital market is divided into three blocks: the exchange market (board, small board, the GEM market (OTC), the National SME share system, known as the "new three"), regional equity market, commonly known as the "four market").
three new board and four board market in general, there are two major differences:
1, the scope of the different. Regional equity market is a private market, an open market, and three new board is an open national market. This is the biggest difference between the two positioning.
2, the different trading. Regional equity trading center should be strictly enforced to take centralized auction, market makers and other centralized trading mode "and" rights and interests shall be according to the standardized trading unit for listed transactions, any investors buy and sell or sell buy varieties of the same transaction time interval of not less than 5 days; the new board is the national market, the number of shareholders can be more than 200 people, the transaction can be continuous can be standardized, and the transfer is currently divided into two ways of making and agreement.
as of 2015, China’s provinces and autonomous regions have set up 35 regional equity trading center, but the number of Listed Companies in the four board market is unknown.
but by individual trading center as a primer, can be estimated to 35 regional equity trading center of the number of listed companies.
listed in May 2012 in Qianhai equity trading center, for example, as of December 2nd, the center of the number of listed companies 12694; the same day, the Shanghai Stock Exchange Center listed companies for the 9708.
total of 22402, which extended to the country, it is possible in all the Stock Exchange Center listed companies over 10.
number of 10, far more than the current size of the new three board companies. As of December 2nd, the number of new board listed companies 9786.