In the securities industry, the "basic layer" refers to the national equity transfer system that divides all companies listed on the New Third Board into two levels, the innovation layer and the basic layer, according to the relevant provisions of the New Third Board stratification system. Listings that meet different standards

Companies are included in innovation layer or basic layer management respectively.

The so-called "innovation layer" means that according to the relevant provisions of the NEEQ stratification system, the National Equities Exchange and Quotations divide all companies listed on the NEEQ into two levels: the innovation layer and the basic layer. Listed companies that meet different standards are included separately.

Innovation layer or base layer management.

Selected layer stocks refer to stocks listed for trading on the selected layer of the New Third Board.

The differences between the three levels of the New OTC Market: (1) Different risks.

The risk levels from high to low are basic level, innovative level, and selected level.

(2) Investment thresholds are different.

The capital thresholds for the three levels are 2 million, 1.5 million, and 1 million respectively, but the required stock trading experience is two years.

(3) Different transaction methods.

Stocks in the selected tier will implement a continuous bidding trading system, while stocks in the basic tier and innovation tier will implement a collective bidding or market maker trading system.

(4) The price limits are different.

The price limit for continuous bidding is 30%; the price limit for call auction transactions is 50% at most and 100% at most.

The above are the main differences between the three levels of the New OTC Market. It can be seen that among the three levels, the stock trading method of the selected level is more similar to the main board market.

In addition, companies that have been listed on the selected level for a certain period of time and meet the exchange's listing conditions and relevant regulations can directly transfer to the listing.

The country promotes internal economic circulation, mainly by leveraging the potential of domestic demand to better connect the domestic market with the international market and achieve stronger and sustainable development.

In the stock market, the corresponding ones are consumption internal circulation, technology internal circulation, national defense internal circulation and capital internal circulation.

So, which stocks are good for the economic cycle?

Stocks with favorable economic circulation: Economic inner circulation is favorable for the large consumer sector, new infrastructure sector, real estate sector and technology manufacturing sector.

The internal economic cycle is mainly guided by the dual-circulation development of international and domestic mutual promotion, and consumption is regarded as the core driving force of China's economic growth.

In addition to eating, the focus of investment in the internal cycle is to promote more productive manufacturing investment. The internal economic cycle will promote the growth of new infrastructure stocks and real estate industry stocks.

Generally speaking, the internal circulation of the economy is good for manufacturing stocks, technology stocks and consumer company stocks.

Real estate and infrastructure have been the most commonly used investment tools for short-term stable growth in the past.

When promoting internal circulation, these two investments need to be combined with new urbanization if they are to be revitalized.