On 31st March, 2009, China’s Securities Regulatory Commission issued Provisional Measures for the Administration of the Stock Issuance in the Growth Enterprise Market for the First Time and put into practice on 1st May, which means the growth enterprise market prepared with more than ten years is expected to open officially on 1st May, 2009.

According to the measures, the enterprises willing to listed in the growth enterprise market should be the stock limited companies set up legally with more than three years’ operation successively and gaining profits in recent two years and the net profits no less than 10 million Yuan (1.46 million USD) in recent two years, which kept rising; or the company should gain profits in recent one year with the net profits no less than 5 million Yuan (730 thousand USD), the operation revenues no less than 50 million Yuan (7.3 million USD) and the growth rate of the operation revenues no less than 30% in recent two years. After the issuance, the total amounts of the capital stocks are no less than 30 million Yuan (4.38 million USD).

The growth enterprise market, also known as the second board market, namely, the second stock exchange market, refers to the securities exchange market engaged in providing the financing channels and the development space for the medium, small and new born enterprises except that in the main board market. Most companies listed in the growth enterprise market are specialized in the hi-tech businesses with high development potential but short time in operation and small in scale without outstanding business achievements. The growth enterprise market is favorable for the potential medium and small enterprises to gain more funds and effective supplement to the main board market, occupying an important position in the capital market. Therefore, familiarly speaking, the growth enterprise market is a stock market with low entry, high ventures and strictly supervision and also the cradle of breeding the scientific and growing enterprises.

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On 31 March 2009, China Securities Regulatory Commission issued Interim Measures for the Administration for issuing shares in the enterprise market for growth and for the first time in practice on 1 May, the Growth Enterprise Market, with prepared more than ten years, funding will be taken are expected to officially launched on 1 Opened in May 2009. Under the measures, companies are willing to invest in growth companies listed on the stock market should win setting up a limited liability company law in the operation for more than three years consecutively and profits in the last two years and net income not less than 10 million yuan (1. 46 million U.S. dollars) in the last two years that have continued to rise, or if the company profits in the past one year with the net profit is not less than 5 million yuan (730 thousand USD), operating income not less than 50 million yuan (7. 3 million) and operating income growth rate of not less than 30% over the past two years. After the emission, the total amount of capital shares is not less than 30 million yuan are (4. 38 million).

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