It's the "Lifetime Series again!" . Too many unprecedented things have happened this year, and the dream of the Beijing Stock Exchange, which the new third board people have been waiting for, has finally come true!

On the evening of September 2, President Xi Jinping announced at the Global Service Trade Summit of the China International Trade in Services Fair in 2021 that it would deepen the reform of the new third board, set up the Beijing Stock Exchange and create the main position for service-innovative small and medium-sized enterprises.

The person in charge of the CSRC said that deepening the reform of the new third board and establishing the Beijing Stock Exchange are important measures to implement the national innovation-driven development strategy and continuously cultivate new momentum for development. it is also an important part of deepening the structural reform on the financial supply side and improving the multi-level capital market system.

The so-called new third board market refers to the share quotation transfer system of unlisted joint-stock companies in Zhongguancun Science and Technology Park, which was officially launched on January 23, 2006 with the approval of the State Council and the reply of the Securities Regulatory Commission.

It is worth noting that the new Securities Law promulgated in 2020 stipulates that the new third board, as the only other national securities exchange approved by the State Council, has the same legal status as the stock exchange.

Since the new third board was officially put into operation in 2013, through continuous reform and exploration, it has developed into an important platform to serve small and medium-sized enterprises.

Data statistics show that the number of new third board enterprises reached a peak of more than 10, 000, the quality of good and bad are mixed; at present, the number of new third board listing is 7304, with a total market capitalization of 2 trillion yuan.

Since 2019, the CSRC has launched a series of reform measures, such as the establishment of a selection layer, the establishment of a public offering system, the introduction of continuous bidding and turning mechanism, and so on, which have stimulated the vitality of the market and achieved positive results.

Zhang Keliang of Yintai Securities said in an interview with the media, "the establishment of the Beijing Stock Exchange has recognized the efforts of the three board people and satisfied the demands of small and medium-sized enterprises." so that the contributions of private entrepreneurs have been recognized by the state and society. "

Zhang Keliang firmly believes that the establishment of the Beijing Stock Exchange is not just a reassurance for private entrepreneurs, but the development of the Beijing Stock Exchange will certainly become a Poseidon needle for stabilizing and supporting the development of private enterprises and even China's economic development.

With the announcement of the establishment of the Beijing Stock Exchange, the market generally believes that it corresponds to the A-share secondary market, which is good for three types of companies: venture capital enterprises, securities firms, and selected layer parent listed companies.

Guotai Junan believes that the landing of the North Stock Exchange may be good for Securities IT. The performance of securities IT is mainly driven by the system upgrading caused by the changes in the securities industry. The landing of the Beijing Stock Exchange will bring performance increments from two aspects: the first is the change of trading rules, and the second is the demand for capacity expansion brought about by the growth of trading volume. In a short period of time, it is difficult for securities firms to undertake the development of system updates alone, which is beneficial to the existing securities IT manufacturers.

The two core catalysts for the securities industry are trading volume and regulatory policies, with the former focusing on improving performance and the latter on improving valuations. At present, active trading volume resonates with regulatory innovation, and with the help of long slope and thick snow in the capital management business, GF Securities Co., LTD. is optimistic about the brokerage plate.

From a comprehensive institutional point of view, the relevant beneficiaries include: venture capital: venture dark horse, Luxin venture capital, Jiuding investment; securities IT: hang Seng Electronics, Gold Securities, Oriental Securities, Everbright Securities and so on. Internet finance: flush, Oriental Wealth, Compass, etc.