A State Council decision to install a new small-cap board on the Shenzhen Stock Exchange probably points to bigger things to come for the city - home to China's Nasdaq-style second board until the technology bubble burst in 2000.
The China Securities Regulatory Commission (CSRC)'s approval on Monday for the small and medium-sized enterprise (SME) board comes with moves to resume new listings on the Shenzhen exchange.
This is a boost to the city's stock market, where new listings have been suspended since September 2000.
'The SME board is expected to be up and running very soon,' a CSRC spokesman said, without elaborating.
Two weeks ago, the Financial Times quoted Shenzhen mayor Li Hongzhong as saying about 1,000 companies were queuing to list on the new board.
The new SME market will have the same listing requirements as the Shenzhen main board, according to official media.
