Qingdao enterprises have performed well in multi-level capital markets and the main financial market during the first-half of the year, according to the city’s financial services office.
Various enterprises have managed to or been in progress to seek financing by listing on the stock market, of which Qingdao Copton Technology Co Ltd led the run, with 358 million yuan ($54 million) raised. A further 15 enterprises have sent applications to the China Securities Regulatory Commission (CSRC), and are currently waiting for approval to list on the market.
During the first-half of 2016, 26 enterprises in Qingdao have debuted on the National Equities Exchange and Quotations (NEEQ), also known as the New Third Board, a pilot national share transfer system for small and medium-sized enterprises. A total of 1.1 billion yuan ($166 million) has been collected through financing. The number of local enterprises listed on the New Third Board has hit 83 so far, and is expected to break 100 by the end of the year.
Progress has also been made in the growth of equity investment funds and private placement sales have risen significantly. To date, 134 individuals have registered themselves with the Asset Management Association of China, up 232.5 percent from the end of 2014. Shenzhen Stock Exchange, China Agriculture Development Fund and several other well-known financial institutions have also become members of the Qingdao Wealth Management Fund Industry Association, greatly enhancing the influence of the private placement market in Qingdao.
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