Beijing Stock Exchange is the abbreviation of Beijing Stock Exchange, and together with Shanghai Stock Exchange, Shenzhen Stock Exchange and Hong Kong Stock Exchange, it forms four major domestic exchanges. The Beijing Stock Exchange itself is a selected layer of the New Third Board, which forms an "upgraded version" of the New Third Board together with the innovation layer and the basic layer. The Shanghai Stock Exchange is mainly composed of state-owned enterprises, central enterprises and science and technology innovation board, which are mainly large-cap companies.

Shenzhen Stock Exchange is mainly private leading enterprises and Growth Enterprise Market, mainly medium-sized companies. The HKEx is dominated by Internet technology-based enterprises, including some international financial enterprises. Finally, there is the North Exchange, which is mainly composed of small and medium-sized enterprises and "specialized and innovative", mainly composed of some selected small-cap companies.

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The clients of the exchange have different emphases. Beijing Stock Exchange adheres to the market orientation of serving innovative small and medium-sized enterprises, while the main board of Shanghai and Shenzhen stock markets will continue to serve mature large and medium-sized enterprises, science and technology innovation board will serve enterprises in hard-tech industries, and GEM will serve high-tech enterprises, strategic emerging industries and growth-oriented innovative and entrepreneurial enterprises.

CSRC has made it clear that in the process of building the North Exchange, the "two relations" will be handled with emphasis. First, Beijing Stock Exchange, Shanghai and Shenzhen Stock Exchanges and regional equity markets adhere to dislocation development and interconnection, and play the role of improving the listing of the board. Second, the Beijing Stock Exchange and the existing innovation layer and basic layer of the New Third Board adhere to overall coordination and system linkage to maintain the balance of market structure.