초록 열기/닫기 버튼
The purpose of this study is to introduce China's over-the-counter stock market, which was also called as New Sampan Chinese Market. This stock market is developed from the previous one after completing institutional inertia. In the previous China's over-the-counter market, IPO(Initial Public Offering) and the increase of capital was impossible because of the limitations of the small over-the-counter market. In addition, the company could not be listed on the market if the stockholders exceed the number of 200 people. These regulations, however, were changed by Chinese government in 2006 when they established new market - dubbed as New Sampan Chinese Market in Peking. Chinese government ran the new market on a trial basis to promote the fund for the venture capital and hi-tech science industries, which suffered from financial difficulties. In the new market, the IPO is available, the company exceeding 200 shareholders can be listed, and the system of market-maker is introduced. Nonetheless, this new market needs to strengthen the invest regulations to secure the market and to protect the investors since it involves in high-risking investment. It is expected that the new market will be expanded into Shanghai, Tengin, and Wuhan for the development of Chinese financing.
