The Position Setting And Development Orient Of The Third Board Market Of China

The Third Board Market is a part of multilevel securities market and important tool of expanding capital market's function. It's not been noticed by investors and firms for long term, as the Third Board Market is not main power of stock market's capital-trade function. However, the market does key work to small enterprise in growing, and alleviates finance pressure of declining enterprises. Furthermore, the Third Board Market increases total efficiency of the whole capital market by increase high-level securities market such as the Main Board Market and the Second Board Market, provide a low cost but high-efficiency for the development of our country's stock market in bottleneck. It is important to set an accurate position for the Third Board Market's development, for it has not been in type yet. The point is the position setting of its trade units. In the past more than 20 years of our country's reform, small business enterprises have never find out good margin method, though increased dramatically in quantity and quality. They are the just position setting of the Third Board Market's trade units. The designing of market system is the key of the Third Board Market to completely develop its function. Among them, trade circumstance, IPO rules, trade rules, and take-charge rules, will be different from current securities market by its special position setting. The caused integrating of current market, education of market units, coordination with the other level of stock market, and opportune moment that release, will be problems in development of our country's Third Board Market to be considered.