Large-cap stocks are generally listed on the Shanghai Stock Exchange, while small and medium-cap stocks are generally listed on the Shenzhen Stock Exchange. Regarding the allocation of the securities market, the CSRC expressed the goal of common development of Shanghai and Shenzhen. Large and medium-sized companies prefer to choose Shanghai Stock Exchange. Because of the exchange, large-cap stocks are dominant, while Shenzhen Stock Exchange is dominated by small-cap stocks, paying special attention to the SME sector.