Nasdaq-style ChiNext reaches a new milestone
As of Aug 4, the number of companies that went public on the startup board ChiNext of the Shenzhen Stock Exchange reached 1,000, representing a 22.55 percent of the total of China's A-share market, CCTV News reported.
The market value of ChiNext, China's Nasdaq-style board of growth enterprises, is estimated at 13.55 trillion yuan ($2.09 trillion), accounting for 15.86 percent of China's A-share market.
About 59 percent of companies listed on the ChiNext board are related to the strategic emerging industries, while 92 percent come from the high-tech sectors.
The share of companies from new-generation IT industry, biomedicine, new materials, and high-end equipment accounted for nearly 50 percent of the total.
ChiNext was established in 2009 with 28 listed companies on its market. In Aug, 2020, the ChiNext piloted the registration-based IPO system. So far, the companies listed on the ChiNext board have raised a combined 1 trillion yuan via equity financing.
