Beijing is providing services to support eligible small- and medium-sized enterprises (SMEs) to get listed on the Beijing Stock Exchange, which is set to open within days.
The city recently launched a training service for SMEs with high growth potential, advanced technology, and strong competitive edge, and aims to introduce several professional and high-quality institutions to service their IPO procedures, according to Wang Lei, vice head of the Beijing Municipal Bureau of Economy and Information Technology.
According to available data, Beijing is home to 1,509 enterprises with high growth potential, advanced technology, and strong market competitive edge by the end of September, and this number is set to reach between 2,500 and 3,000 next year.
"From our preliminary research, around 120 of those businesses meet the requirements for listing on the Beijing Stock Exchange," said Liu Weiliang, an official responsible for work related to SMEs at the bureau. "We will offer targeted services for their future IPOs."
Moreover, an inter-departmental mechanism will be formed to facilitate regular meetings, joint trainings, data sharing, and publicity efforts for those businesses to ensure that they can better utilize the capital market for high-quality growth.
Beijing is working on a package plan for those high-growth enterprises to support their innovation, commercialization, R&D, technology upgrade, industrial restructuring, and human resources development. The plan is expected to be made public by the end of the year.
The plan will also include financing support for those companies, Liu said.
