| To build direct financial platform for SMEs and ease SMEs financing difficulties, China has promoted The New OTC expansion vigorously, while Regional Equity Trading Market mainly led by local government also has grown. The New OTC and Regional Equity Trading Market both face with SMEs, and the two markets financial model is also more consistent, resulting in the two markets have competition more than cooperation currently.Point of view from the experience of foreign mature capital market, construct multi-level capital market can meet different types of financing and investors needs, it is an important measure to promote the development of capital markets healthily and rapidly. Although The New OTC and Regional Equity Trading Market are the same platform for SMEs financing, but if the target have clear position, the two markets cooperation will not only help solve the financing problems of SMEs, but also help achieve building a multi-level capital market.The competition between The New OTC and Regional Equity Trading Market is inevitable currently, so in order to avoid vicious competition they should be have a clear position each other. At the same time of competition, the two markets has formed regional cooperation relationship, there have been some companies from Regional Equity Trading Market listed on The New OTC. Cooperation between the two markets are only preliminary, the two markets are main competition currently. Based on the premise of healthy competition, strengthen cooperation conducive to the sound development of the capital market. Point at the current status of competition and cooperation between The New OTC and Regional Equity Trading Market, this paper gives some suggestions about the future development of two markets, they should clear the role themselves, play their strengths, improve relevant laws and regulations as well as transfer board system to promote three new board and regional equity market development. |
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