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China's Nasdaq-style board starts trading

(Xinhua)
Updated: 2009-10-30 10:45

Delegates of the first batch of 28 selected firms for China's ChiNext pose for photos during the listing ceremony in Shenzhen, south China's Guangdong Province, Oct. 30, 2009. China's Nasdaq-style market, ChiNext, made their debut Friday on the Shenzhen-based exchange. [Xinhua]

SHENZHEN: Twenty-eight small and medium-sized enterprises Friday started trading their shares at China's Nasdaq-style market, ChiNext, in Shenzhen, Guangdong Province.

Huayi Brothers Media Corp., a movie producer, soared the most, up 122.74 percent from its IPO price, to open at 63.66 yuan per share.

Related readings:  Shenzhen GEM debuts, with 28 firms  Nasdaq-like board opens in Shenzhen  22 Chinese companies listed on NASDAQ in 2009  China launches its NASDAQ-like market

Zhongyuan Huadian Co. Ltd. increased the least by 46.26 percent from its IPO price to open at 47 yuan per share.

ChiNext was expected to provide more fund-raising channels for small and medium-sized businesses of high technology and high growth.

The central bank and the whole financial system will consistently support ChiNext, said Zhou Xiaochuan, governor of the People's Bank of China, the central bank, at the trade opening ceremony.

The index screen shows the increase of the opening prices of the first batch of 28 selected firms for China's ChiNext after their debut in Shenzhen, south China's Guangdong Province, Oct. 30, 2009. The first batch of 28 selected firms for China's Nasdaq-style market, ChiNext, made their debut Friday on the Shenzhen-based exchange. [Xinhua]