What is the New Third Board ? The National Equities Exchange and Quotations, also known as the National Equities Exchange and Quotations, is a national securities exchange approved by the State Council and established in accordance with the Securities Law. It is also the first corporate stock exchange. National Equities Exchange and Quotations Co., Ltd. is its operating agency. It was registered with the State Administration for Industry and Commerce on September 20, 2012, and officially opened for operation on January 16, 2013, with a registered capital of 3 billion yuan and its place of registration in Beijing.
The NEEQ is positioned as a market platform for the public transfer of stocks and issuance and financing of unlisted joint-stock companies, providing companies with stock trading, issuance financing, mergers and acquisitions and other related services, and providing market participants with information, technology and training services. On this platform, securities companies that have the qualification to host the brokerage business of the agency system use electronic transactions to provide standardized share transfer services for unlisted joint stock companies.
The New Third Board originated in Zhongguancun, Beijing, and is mainly a relatively high-tech enterprise. The reason why it is called the "new" third board is that there is still an old third board, which mainly carries the equity transfer of companies listed on the original STAQ and NET systems and delisted companies.
In 2006, the unlisted joint-stock company of Zhongguancun Science and Technology Park entered the agency transfer system for share quotation transfer, which is called "New Third Board". Due to the limited number of companies in Zhongguancun, the trading volume on the New Third Board at that time was limited and the trading was extremely inactive.
In 2012, Shanghai Zhangjiang High-tech Industrial Development Zone, Wuhan East Lake High-tech Industrial Development Zone and Tianjin Binhai High-tech Zone joined the pilot projects of the New Third Board. Since then, the New Third Board has been expanded to 4 national-level high-tech parks, and the source of projects has been greatly expanded.
At the end of 2013, the China Securities Regulatory Commission announced that the New Third Board would be expanded nationwide and open to all companies. On January 24, 2014, 285 companies were listed on the New Third Board at one time, and a total of 621 listed companies were listed, proclaiming that the New Third Board has officially become a national securities trading market.
As of March 2015, more than 2,100 companies have been listed on the New Third Board, which is already relatively large in terms of the number of companies and total market value.