In fact, this is the need and implementation of developing multi-level capital markets. I once told you the differences between the main board, small and medium-sized board, growth enterprise market and new third board.
Their differences are as follows:
1. Enterprises listed on the main board are mainly large-scale excellent enterprises with high market share, large scale, good foundation and high efficiency. The enterprises listed on the small and medium-sized board are mainly small-scale enterprises that have entered a mature stage and have strong profitability. In contrast, the Growth Enterprise Market is dominated by independent innovation enterprises and other growth enterprises. Finally, the "New Third Board" we often hear is actually the national share transfer system for small and medium-sized enterprises, which mainly serves innovative, entrepreneurial and growing small and medium-sized enterprises.
2. The stocks of the main board are divided into stocks starting with the Shanghai Stock Exchange 6 and those starting with the Shenzhen Stock Exchange . Small and medium-sized board belongs to a section of Shenzhen Stock Exchange, starting with 2. The GEM starts with 3. As for the new third board stocks, they start with 8, and the exchange is located in Beijing.
3. The main board and small and medium-sized board are often contacted by us, which means that any investor can make corresponding investment as long as you have an institution in the corresponding securities firm. In contrast, the Growth Enterprise Market needs certain conditions, because the Growth Enterprise Market is relatively risky. We need to consider our risk tolerance and need more than two years of experience in the securities market before it can be opened. The entry threshold for the New Third Board is even higher, because it mainly faces institutions and high-net-worth investors, and it needs proof of 5 million financial assets to be opened.
as for the listing conditions, I don't need to go into details here. The reason why I quit the multi-level capital market is actually for the convenience of listing for various enterprises. At the same time, I would like to remind you that no matter what products you invest in, please look for regular exchanges. So far, there are eight national exchanges, and four futures of three securities are supervised by the CSRC: Shanghai Stock Exchange, Shenzhen Stock Exchange and National Small and Medium-sized Enterprise Share Transfer System; China Financial Futures Exchange, Shanghai Futures Exchange, Dalian Commodity Exchange and Zhengzhou Commodity Exchange; One precious metal is under the supervision of CBRC: Shanghai Gold Exchange.