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Nasdaq was founded in 1971. The listed company's threshold for listing on NASDAQ is lower than the Shenzhen GEM.

Nasdaq threshold below Shenzhen GEM

Right!

Nasdaq was founded in 1971. The listed company's threshold for listing on NASDAQ is lower than the Shenzhen GEM.

Chinese name

Nasdaq threshold below Shenzhen GEM

Foreign name

The NASDAQ threshold is lower than the Shenzhen gem

Field

Financial securities

Main object

Nasdaq and Shenzhen Securities Index

Nature

Economic phenomenon

Function

Promote the operation of China's capital market

Nasdaq threshold below Shenzhen GEM

The construction of China's capital market is not easy. The Nasdaq was founded in 1971, and the New York Stock Exchange was completed in 1792. However, China has only a short history of the capital market in the past 18 years, but it has developed very surprisingly. Speaking of the upcoming Shenzhen GEM, he believes that, as far as the threshold for listed companies is concerned, the NASDAQ is lower than the Shenzhen GEM. "Some companies that are not particularly profitable are still listed on the Nasdaq. From the current point of view, such companies are unlikely to be listed on the Chinese market.

It is understood that the requirements for listed companies in the Shenzhen GEM consultation draft are: the cumulative net profit of the last two years is not less than 10 million yuan, and continuous growth; or the profit of the last year, and the net profit is not less than 5 million yuan Renminbi; the Nasdaq s standard is as long as the pre-tax profit in the last year reaches 750,000 US dollars.

Xu Guangxun pointed out that Nasdaq s successful experience cannot be completely moved to China, which is not in line with China s national conditions, but he believes that Nasdaq s market system, supervision system, and service concept are worthy of reference for China s financial transaction supervision department.

"Among them, the" market maker "transaction method is unique in Nashi." Xu Guangxun said.

The so-called "market maker" means that when each company goes public, there must be at least three market-making investment banks. "These investment banks must meet many requirements: for example, they must use their own net assets to support the trading volume of listed companies; once they buy and sell, the quote must be executed at this price."

Obviously, the "market maker" trading method has enhanced market liquidity. "This is the oxygen and blood of the market. Therefore, despite Nasdaq's 37-year history, with this structural foundation, it has developed well along the way. At present, the total number of investment banks in China is not enough. The working methods and concepts of investment banks are not the same. "

Xu Guangxun s experience is that do nt expect the GEM to succeed as soon as it is launched. This road will be a long one. Also, listen to the ideas of SMEs. I do nt advocate making the GEM s activity too big, everyone They're discussing it, but it's not very good. "

In his eyes, China has excellent legal talents and gradually improved laws, but China's market enforcement is not enough. "The punishment mechanism must be more shocking to protect the interests of investors."

A few days ago, Xu Guangxun just went to the CSRC. "We are also cooperating with the Shanghai Stock Exchange and Shenzhen Stock Exchange. We are exploring whether a company can be listed at home and abroad in the future. In this way, overseas investors can understand the development of this Chinese company through domestic stocks and analysis. How. Chinese companies can also enter the United States to conduct business through foreign capital markets. "

In addition, he added that Nasdaq also hopes to have the opportunity to enter the Chinese market. "If it can be listed on the Shanghai Stock Exchange, it will be a very lucky thing for Nasdaq. At present, we are waiting for the relevant authorities to promulgate the regulations on the domestic listing of overseas companies."