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Companies listed on the third board can be roughly divided into two categories: one is the original STAQ, the online listed company and the delisting company, namely the third board. On June 1 2006, with the approval of China Securities Regulatory Commission, China Securities Industry Association issued the "Pilot Measures for Securities Companies to Handle Share Transfer Business", and the work of handling share transfer was officially started.
On July 16, 2002, the first share transfer company was listed. In order to solve the problem of share transfer of delisting companies, on August 29, 2002, delisting companies were included in the pilot scope of share transfer.
The New Third Board is called the incubator of listed companies on the Growth Enterprise Market, which can improve the financing ability of listed companies through price discovery, introduction of venture capital, private equity capital increase and bank loans.
References:
Baidu Encyclopedia-New Third Board Listing