China's Beijing Stock Exchange (BSE) embraced the listing of the 100th firm Friday as the newly established bourse attracts innovative smaller enterprises with its listing efficiency and smooth operation.
The BSE started trading on November 15 last year. As part of China's efforts to deepen capital market reform, the stock exchange is more inclusive for small and medium-sized enterprises (SMEs) with lower listing thresholds, diverse evaluation standards, and a shorter approval time.
About 76 percent of the 100 BSE-listed firms are SMEs, while over 80 percent are in strategic emerging sectors and advanced manufacturing.
These firms generally posted impressive financial performances in 2021. Over 5 million BSE accounts had been opened by investors by June 20.
The BSE adopts the registration-based initial public offering system, in line with the Nasdaq-style sci-tech innovation board (also known as the STAR market on the Shanghai Stock Exchange) and the tech-heavy ChiNext market on the Shenzhen Stock Exchange.
According to the bourse, it took an average of 143 days for a project's IPO auditing and approval on the BSE.