A third stock market will be set up in Beijing to help small- and medium-sized companies raise capital, Chinese regime leader Xi Jinping announced Thursday. “We will continue to support the innovation and development of small- and medium-sized enterprises, deepen the reform of the New Third Board, set up a Beijing Stock Exchange to build a primary platform serving innovation-oriented small- and medium-sized enterprises,” Xi said in a video speech during an international fair for trade in services held in Beijing. China already has two stock markets, both set up in 1990. One is in Shanghai and the other is located in Shenzhen, a city next to Hong Kong. The New Third Board Xi mentioned is an over-the-counter capital market launched in 2013 in Beijing. Its official name is the National Equities Exchange and Quotations (NEEQ). It has been deemed an easier financing channel for small businesses with its simplified …
