China securities regulator to promote development of New Third OTC Board

[SHANGHAI] China's securities regulator said on Friday it would release measures to further promote the development of the New Third Board, the country's most active over-the-counter equity exchange, part of efforts to aid China's small companies.

The China Securities Regulatory Commission (CSRC) said at a conference in Beijing that it plans to categorise companies listed on the New Third Board into two levels, based on the maturity of their business models. It would also encourage brokerages to set up subsidiaries for OCT market-related businesses.

However, the CSRC said the time was not ripe to lower the threshold for investors in the New Third Board, and it also said that listing on the board should not be considered a step toward listing on one of the main boards.

REUTERS