ChiNext raised 117B Yuan for 153 companies in Y 2010

Companies listed on China’s Nasdaq-style ChiNext board have raised 116.75B Yuan (US17.61B) since the board’s creation in October 2009, Shang Fulin, chairman of the China Securities Regulatory Commission, said Saturday.

By the end of Y 2010, 153 companies have been listed on the ChiNext board, with combined market capitalization of 736.5B Yuan.

Moreover, 17.79 million investors have opened ChiNext trading accounts, Shang said at the 15th China Capital Market Forum held in Beijing.

“ChiNext, China’s main market for start-ups, has been very supportive of the development of high-growth enterprises and companies in the strategically important emerging industries, since its creation a year ago,” Shang said.

The board had 139 high-tech companies by the end of Y 2010, which accounted for more than 90% of its total listed enterprises.

During the 1st 3 Q’s of Y2010, ChiNext-listed companies reported a 26.93% Y-Y rise in profits on average, and their business revenue jumped 36.49%, Shang said.

China will strengthen supervision of the ChiNext board and crack down on all types of irregularities to protect investors’ interests, Shang added.—Paul A. Ebeling, Jnr. www.livetradingnews.com

Posted by Shayne Heffernan on Jan 8th, 2011and filed underBRIC, Latest News, News & Events.You can follow any responses to this entry through theRSS 2.0You can leave a response by filling following comment form or trackback to this entry from your site