Development, Innovation And Regulation Of The New Third Board Market

In the capital market, investors and financing have different size anddifferent characteristics of the subject, which determines the capital marketshould be multi-level diverse needs of financial services.At present China has initially established a board (board), do poineeringwork board (board), the third (including the new Sanban and new Sanban),and a four plate (regional equity trading market) and other four flow ofequity market system. The capital market of our country can be divided intothe motherboard market, the gem and composed of the new Sanban andregional equity trading market and the OTC market and the four levels of themarket."The new Sanban is commonly known as the small and medium-sized enterprise share transfer system", provide a new national trade andfinancing platform for the initial stage of small and medium sized enterprises.The new Sanban is relative to the new Sanban terms, usually referred to theold3board refers to the motherboard retreat city stock trading system,including "private Limited by Share Ltd to do offer shares transfer system"of Zhongguancun science and Technology Park, the latter is sometimesconsidered an early form of the new Sanban development. The new Sanbandefined in this research is a Zhongguancun listing, equity trading systemnationwide.As a direct contact with the board and the gem equity trading market, howthe inner operating system, how to establish the criteria for the selection oflayered enterprise, how the flow mechanism and other equity trading market(i.e. the turn plate mechanism) and so on, these are problems worthdiscussion of our new Sanban development process. The research on theseproblems, in-depth discussion.