Compared with the main board (including small and medium-sized board) and the Growth Enterprise Market, the so-called "new third board" market refers to the unlisted joint-stock companies in Zhongguancun Science Park entering the agency joint-stock system to carry out the pilot transfer. Because the listed companies are all high-tech enterprises, which are different from the delisting companies of the original turntable system and the listed companies of the original STAQ and network system, they are vividly called "New Third Board".

201310/6 with the approval of the State Council, the National Small and Medium-sized Enterprise Share Transfer System Co., Ltd. was unveiled in Beijing, which means that the New Third Board trading model was officially born.

Its management organization is established in the form of a limited liability company to provide services for public transfer, financing, mergers and acquisitions and other related businesses of unlisted joint-stock companies. The national share transfer system for small and medium-sized enterprises (hereinafter referred to as the "national share transfer system") will assume the responsibility for the construction, development and operation management of the national OTC market.

The operating platform of the national OTC market will change the share transfer system managed by the Securities Industry Association into the National Small and Medium-sized Enterprise Share Transfer System Co., Ltd. approved by the State Council; Access and continuous supervision of listed companies will be included in the scope of supervision of unlisted public companies by the CSRC; The market operation system will be changed from the pilot method issued by the Securities Industry Association to the business rules of the national share transfer system for small and medium-sized enterprises.

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China stock market:

China stock market is the stock market in People's Republic of China (PRC). 1989 was started as a pilot project, and it was established in line with the concept of stopping when it is tried, or stopping when it is not good. Therefore, in the stock market operation before 1995, the biggest negative news is usually the news that the China stock market pilot will stop and the stock market will close.

After the "3.27 Treasury bond futures incident", the China futures market was completely rectified and cleaned up on 1995, and the China stock market became the object of support, which ushered in a real positive and entered a period of great development.

The biggest feature of China stock market is that state-owned shares and legal person shares promise not to circulate when they are listed, so only the tradable shares are traded in the market according to the share price, but the index is calculated according to the total share capital, thus forming the characteristic of "controlling more with less" in trading.

Reference materials? Baidu Encyclopedia China Stock Market