China began consulting citizens on the opening of a stock exchange in Beijing, to serve as a base for small and medium-sized enterprises (SMEs) dedicated to innovation.
The Securities Regulatory Commission opened the process one day after the country’s President Xi Jinping announced the decision to establish this financial market.
As indicated by the entity, it is a ‘new great strategic plan for the capital market’ and the objective will be to ‘improve the financial support system (…) for SMEs’.
‘The establishment of the Beijing Stock Exchange is an important measure to implement the national innovation-based development strategy and continuously cultivate new development engines,’ the Commission added.
This will bring to three the number of financial exchanges in mainland China, which until now have been in Shanghai and Shenzhen.
In addition, another of the world’s most important stock market operates in Hong Kong.