英语资讯
News

英语文摘:Chinese official: Start-ups market no threat to main board

Source:  Onion  2008-03-26   English BBS   Favorite  
BEIJING, March 25 (Xinhua) -- China's upcoming growth enterprise board for small start-ups to raise funds is no threat to the main stock market, Yao Gang, new vice chairman of the China Securities Regulatory Commission (CSRC), said here Tuesday.

    His comments followed continuous declines in China's bourses partly caused by fears of capital shortages after a series of restraining measures and huge refinancing.

    "The market is not short of money but of better and more attractive investment products," said Yao in an online interview.

    CSRC statistics showed the average market capitalization of the222 companies listed on the Shenzhen small and medium-sized enterprises (SMEs) board was only 300 million yuan.

    The number would be even lower, ranging from 100 million to 200million yuan, on the growth enterprise board, he said.

    Therefore the capitalization of listing 100 such enterprises would only match one major enterprise on the Shanghai Stock Exchange, he said.

    The CSRC began to solicit opinions on the growth enterprise board on March 21. Shang Fulin, CSRC chairman, said in January the board would be opened on the Shenzhen Stock Exchange in the first half of 2008.

    Lack of finance has been a problem for China's 42 million small and medium-sized enterprises, more than 95 percent of which are privately owned.

    Less than 2 percent of the SMEs access funds directly from the financial market, according to statistics from the National Development and Reform Commission.


将本页收藏到:
上一篇:英语文摘:Chinese banks allowed to trade gold futures
下一篇:英语文摘:Premier Wen calls for greater co-op with Malawi
最新更新
论坛精彩内容
网站地图 - 学习交流 - 恒星英语论坛 - 关于我们 - 广告服务 - 帮助中心 - 联系我们
Copyright ©2006-2007 www.Hxen.com All Rights Reserved