Q&A
What is the Shenzhen Stock Exchange?
(chinadaily.com.cn)
Updated: 2010-08-02 09:37
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The Shenzhen Stock Exchange (SZSE) (Chinese: 深圳证券交易所) was founded on December 1, 1990. It is a non-profit organization directly administered by the China Securities Regulatory Commission (CSRC).
Based in the Chinese city of Shenzhen, the stock exchange is one of the three stock exchanges operating independently in the People's Republic of China, the other two are the Shanghai Stock Exchange and the Hong Kong Stock Exchange.
Its main functions include providing venue and facility for securities trading, formulating operational rules, arranging securities listing, organizing and supervising securities trading, offering membership supervision and oversight of listed companies, managing and publicizing market information and other capacities permitted by CSRC.
The SME Board was launched in May 2004. The ChiNext Market was inaugurated in October 2009. And the OTC market began its pilot program in Zhongguancun Science Park in January 2006. Thus SZSE has basically completed its framework for the multi-tier capital market system with coordinated development in the main board, SME board and ChiNext market.
The SZSE is open for trading every Monday to Friday. The morning session begins with centralized competitive pricing from 09:15 to 09:25, and continues with consecutive bidding from 09:30 to 11:30. This is followed by the afternoon consecutive bidding session, which starts from 13:00 to 15:00. The market is closed on Saturday and Sunday and other holidays announced by the SZSE.
By 30 June 2010, SZSE was home to 1,012 listed companies, with 485 on the main board, 437 on the SME board and 90 on the ChiNext market. The total market capitalization was valued at 5.6 trillion yuan ($828.7 billion). A total of 69 companies in Zhongguancun Science Park were quoted on the OTC market. In the first half of 2010, SZSE raised 154.3 billion yuan in IPO proceeds and recorded a total trading value of 9.73 trillion yuan.
Its website in English: http://www.szse.cn/main/en/