{"id":57232,"date":"2023-09-05T15:57:01","date_gmt":"2023-09-05T19:57:01","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/beijing-exchange-shares-log-record-daily-jump-after-reform-measures\/"},"modified":"2023-09-05T15:57:04","modified_gmt":"2023-09-05T19:57:04","slug":"beijing-exchange-shares-log-record-daily-jump-after-reform-measures","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=57232","title":{"rendered":"Beijing exchange shares log record daily jump after reform measures"},"content":{"rendered":"
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\u00a9 Reuters. The sign of Beijing Stock Exchange is seen at its entrance during an organised media tour, in Beijing, China February 17, 2022. REUTERS\/Florence Lo\/File Photo<\/span>
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SHANGHAI (Reuters) – Shares on China’s two-year-old Beijing stock exchange recorded their best daily performance ever on Monday, after the country announced reform measures to improve the market that focuses on smaller innovative tech firms.<\/p>\n

The Beijing Stock Exchange 50 Index closed up 5.9%, after the China Securities Regulatory Commission (CSRC) said on Friday it would foster innovation in Beijing’s exchange to invigorate the capital market and boost investor confidence.<\/p>\n

The CSRC’s move comes on top of several other market and economic stimulus measures over recent weeks as China’s post-COVID economic recovery lost steam since the second quarter, while a deepening property crisis has rattled investors.<\/p>\n

The Beijing exchange focuses on funding innovative small companies, known as “little giants”, that specialise in niche sectors.<\/p>\n

Shares in Long Bamboo Technology Group, Hunan Wuxin Tunnel Intelligent Equipment Co and Panzhihua Bing Yang Technology Co jumped by between 20% and 30% and led the gains among the 217 listed companies in the market. <\/p>\n

The Beijing exchange 50 index is still down 15% since its inception in April 2022.<\/p>\n

The CSRC aimed to boost liquidity in the market by relaxing investor thresholds and improving trading mechanisms. The team of market-makers will be expanded, and all shares listed on the market will be eligible for margin financing, the CSRC said.<\/p>\n

“The measures are a package of gifts for the two-year anniversary of the Beijing exchange,” said Zhou Yunnan, founder of NS Capital Co. “It would be beneficial to the market’s high-quality development and boost investor confidence.”<\/p>\n

The CSRC also announced measures to ease listing rules and improve listed companies’ quality. The regulator said it will guide more mutual funds to expand their investments in the market. <\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. The sign of Beijing Stock Exchange is seen at its entrance during an organised media tour, in Beijing, China February 17, 2022. REUTERS\/Florence Lo\/File Photo SHANGHAI (Reuters) – Shares on China’s two-year-old Beijing stock exchange recorded their best daily performance ever on Monday, after the country announced reform measures to improve the market […]<\/p>\n","protected":false},"author":1,"featured_media":2403,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-57232","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nBeijing exchange shares log record daily jump after reform measures | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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