Shanghai Equity Exchange may encounter challenges
Shanghai has seen the over-the-counter equity market grow robustly since it was set up in February, but the city's equity exchange may see huge challenges due to low transaction volume and construction of similar exchanges across China, Shanghai Daily reported.
The Shanghai Equity Exchange now has 21 companies listed, two more since its formation, General Manager Zhang Yunfeng said during the Night Chat by the Huangpu River, part of this year's Lujiazui Forum which opened Thursday. Of the listed companies, 11 are tradable, five more than February. The remaining firms haven't passed the lock-up period required by the exchange, the newspaper reported.