The New Third Board is not a listed company, and its trading place is the national share transfer system for small and medium-sized enterprises. Except that the name does not contain the word stock exchange, other conditions meet the requirements of the stock exchange. The New Third Board is a national share transfer system for small and medium-sized enterprises, and listed companies buy and sell securities on stock exchanges. Unlisted company refers to a limited liability company whose shares are not listed on the stock exchange. With the gradual improvement of the New Third Board market, China will gradually form a multi-level capital market system including main board, growth enterprise market, OTC network and property rights market. Mainly includes:
The first board market usually refers to the main board market (including small and medium-sized board).
The second board market refers to the growth enterprise market. Compared with the first board market and the second board market, some insiders call the OTC market the third board market.
The development of the third board market includes two stages: the old third board market (hereinafter referred to as "the third board") and the new third board market (hereinafter referred to as "the third board"). The Third Board is the "Agency Share Transfer System" established on July 65438+6, 200 1 year. The "New Third Board" is developed on the basis of the "Old Third Board".