Background of the establishment of Gansu Equity Exchange Center

China's capital market includes on-site market and off-site market. The on-site markets are Shanghai Stock Exchange and Shenzhen Stock Exchange. The OTC capital trading market is mainly composed of the third board market and the equity trading center. Equity Exchange Center, also known as the fourth board market, is an important part of China's capital market. Equity Exchange Center is a regional equity exchange market, which provides equity, bond transfer and financing services for enterprises in a specific region. It is an important part of China's multi-level capital market and an indispensable part of China's multi-level capital market construction. It has played an important and positive role in promoting enterprise equity trading and financing, encouraging scientific and technological innovation and activating private capital, and strengthening support for weak links in the real economy.

Compared with the developed capital market, China's capital market is still in the primary stage of development. The capital market cannot fully meet the investment needs of various investors and the financing needs of various financiers, and cannot effectively allocate social resources. After the establishment of OTC markets such as equity exchange centers, China's capital market system will tend to be reasonable and better serve the real economy. As an important part of China's capital market, Gansu Equity Exchange Center has great strategic significance for developing Gansu's economy and promoting Gansu's enterprise innovation. At present, for enterprises that meet the screening criteria for listed companies in Gansu Equity Exchange Center, if they are successfully listed and the initial financing amount reaches more than 5 million yuan, the Provincial Industry and Information Committee will give each enterprise a certain financial subsidy in accordance with relevant regulations to reduce the listing cost of early enterprise cultivation and shareholding system reform. At the same time, the municipal and state industrial and information committees are required to actively encourage and support the listing financing of SMEs, study and formulate relevant policies and measures, set up corresponding matching funds, and further promote the equity financing of SMEs.