The ChiNext, China"s NASDAQ-style board, celebrated its ninth anniversary.Established on Oct. 30, 2009, the ChiNext, featuring fast growth start-ups, has played a crucial role in providing financial support for the real economy in China to promote high-quality development.The following are key facts and figures on the development of the ChiNext board in the past nine years:-- By the end of October, the number of ChiNext-listed companies has risen from 28 to 734, with the market value totaling 4
Market regulator vows more measures to enhance liquidity, boost M&As and share buybacksChina"s A-share market remained weak on Tuesday, losing as much as 0.8 percent in early trading, but managed to rebound after the securities regulator pledged to enhance market liquidity.The benchmark Shanghai Composite Index closed 1.02 percent higher, at 2568.05 points, after Monday"s 2.2 percent drop. The CSI300 index ended 1.1 percent higher at 3110.26 points after falling 3 percent on Monday.The China Sec
Four firms in new materials, culture, pharmaceuticals eye share sales in UKCobalt new materials manufacturer Zhejiang Huayou Cobalt Co Ltd, cultural company Shanghai Oriental Pearl Group, Kangmei Pharmaceutical Co Ltd and Tasly Pharmaceutical Group are examining the possibility of selling shares in London, potentially to raise money under the long-awaited Shanghai-London Stock Connect Program, according to sources with knowledge of the matter.The companies, which expressed their interest in part
China"s top legislature on Friday adopted revisions to the Company Law, which relaxed restrictions on public companies making stock buybacks.Companies were previously banned from buying back their publicly traded shares except under four circumstances, such as when granting employees equity incentives.Further loosening the restrictions, the revised law allows companies to buy back shares if they use them to issue convertible bonds or when the companies act to defend their corporate value and sha
Pledged-share risks are unlikely to spread as a systemic danger in China, as a result of government-backed funding support and market expectations of more supportive measures.In the long run, the country needs to implement a long-term mechanism and offer a proper credit environment to help ease the financial pain of small and medium-sized enterprises - those which are most likely to be affected by market volatility, according to analysts.Recent fluctuations in the A-share market have led concern
Revision of the Corporation Law to make it easier for listed firms to buy back stocksChina is likely to revise laws to make it easier for listed companies to buy back shares, another policy measure to shore up market confidence after stocks declined more than 20 percent so far this year.The revision is mainly to article 142 of China"s Corporation Law, which regulates share repurchases.The National People"s Congress Standing Committee, China"s top legislative body, will conduct deliberation on a
An investor is seen at a stock exchange in Hangzhou, east China"s Zhejiang Province, Oct. 22, 2018. Chinese stocks closed higher Monday, with the benchmark Shanghai Composite Index up 4.09 percent to close at 2,654.88 points. The Shenzhen Component Index closed 4.89 percent higher at 7,748.82 points. (Xinhua/Long Wei)Chinese stocks surged Monday after policy makers moved to boost confidence in the stock market and pledged to enact measures to ensure its healthy development.Extending Friday"s reb
Tax and fee relief, removal of loan obstacles for private firms foreseenChinese stocks surged on Monday as investor confidence rebounded due to the expectation of further measures from authorities to stabilize the market, officials and researchers said.China"s three major stock market indexes rose on Monday. The Shanghai Composite Index increased by 4.09 percent to close at 2654.88 points. The Shenzhen Component Index surged 4.89 percent to close at 7748.82 points, and the ChiNext Index, China"s
Qualified foreign institutional investors" interest in the Chinese mainland"s A shares remains strong in spite of recent market fluctuations and less-than-stellar financial performance of some companies this year.Evidence of QFIIs" sustained interest comes in the form of their heightened research into A-share companies.Data from Shanghai-based Eastmoney Information Co Ltd showed 57 A-share companies received survey forms to fill from QFIIs in September.In contrast, QFIIs surveyed only 40 A-share
Program would help attract more global investors for participationHong Kong is working to list certain investment projects related to the Belt and Road Initiative on the city"s stock exchange, as a way to open up the initiative to more global businesses and investors, according to Hong Kong"s trade promoter.The city can serve as a platform connecting interested enterprises with the necessary information and access points to get direct participation in this grand mission, said Vincent H S Lo, cha
