The new Sanbanxi differs from the Shanghai and Shenzhen Stock Exchange

National SME Share transfer system (also known as new Sanbanxi ) is approved by the State Council, according to the securities law set up a national securities trading Place , was formally incorporated in September 2012, is the Shanghai Stock Exchange, The third national securities trading place after the Shenzhen Stock Exchange . In the nature of the site and legal positioning, the national share transfer system and the Shanghai and Shenzhen stock exchanges are the same, are the multi-level capital market system is an important part. But the national share transfer system and the Shanghai and Shenzhen Stock Exchange are still different, the main difference is three:

first, the service objects are different . The positioning of the national share transfer system is mainly for innovative, entrepreneurial, growth-oriented small and medium-sized enterprises development services . Such enterprises are generally small and have not yet formed a stable profit model. In terms of access, there is no financial threshold, companies that apply for listing may not yet be profitable, as long as the ownership structure is clear, the operating legal norms, the company's sound management, business clear and fulfilling information disclosure obligations of the company can be recommended by the organizer of the National share transfer system listing;

Second, the investor group is different . The national share transfer system implemented a more stringent investor suitability system, the future development direction will be an institutional investor-oriented market, such investors generally have strong risk identification and affordability;

Third, the national share transfer system is small and medium-sized micro-enterprises and industrial Capital service media, mainly for enterprise development, capital investment and exit services, not to deal as the main purpose.

The new Sanbanxi differs from the Shanghai and Shenzhen Stock Exchange