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'Chinese Nasdaq' may launch in AugustPosted by Eric Mu on Wednesday, April 1, 2009 at 6:09 PM
 Securities Times April 1, 2009 After a decade of debate, China's securities regulator has finally decided that the time is ripe for a second stock market independent of the two major boards in Shanghai and Shenzhen. Yesterday, the CSRC released a set of rules governing the growth enterprise board, which will be mainly targeted at smaller-size, high-tech companies. The Interim Regulating Measures, which are set to take effect starting on May 1, led to reports yesterday that said, "China's Nasdaq-style second board will open on May 1." However, today's Securities Times ran an article that quoted CSRC vice chairman Yao Gang as saying that the new board is more likely to open in August. According to Yao, about half of the 20 candidate companies selected last year to be the first to go public could no longer meet entry qualifications due to their declining performance. On other newspaper front pages: The Beijing News has been following developments in the case of a professor who was reported missing on Monday. The man, an assistant professor from Tsinghua University, left home last week after quarrelling with his wife. Today's front-page photo showed him returning with rescuers who discovered him yesterday in the mountains on the outskirts of Beijing.  Daily Sunshine April 1, 2009 Several Guangzhou-based newspapers, including the Information Times, covered a police raid which successfully busted an underground drug lab hidden in an apartment complex in Yuexiu District. The factory was accidentally discovered when residents complained to the police about the stink from the apartment, and nearby plants that had mysteriously withered. The main image on the Sunshine Daily illustrated a food safety-related story concerning the local government-affiliated "pork plant" (肉联厂) in Guangzhou which sold clean test results to pig farmers without testing their pigs. Yu Keping, deputy director of the Central Translation Bureau and noted advocate of democracy, also made the cover of the newspaper. In an article reprinted from Xinhua's China Comment, Yu expressed his view that it is wrong to assume that the marterial well-being (民生) can substitute for political democracy (民主). Also on the cover of the paper is the news that China will send two naval vessels, the frigate Huangshan and the destroyer Guangzhou, to the Gulf of Aden to replace the first fleet, which has been carrying out its escort mission there since January 6. Links and Sources
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Comments on 'Chinese Nasdaq' may launch in August
Mr. Yu's article is much more positive toward democracy than the title would suggest. I myself am pretty surprised such a thing is printable in a place like Xinhua.
I am excited about the new Chinese Market exchange as a US Systems innovator.
It is increasingly difficult for me to get my ideas to US capital markets because of poor regulations and unfair competition. The net result has been US corporate competition already securitized in the Public Markets infringing on all the property as I go through the approval process from the Patent Office, Grants to the exchange.
I think if China can provide protection to the innovator through organized governance of the process from conception, capitalization, development, refinement to exchange that because of China's Capital their new exhange might attract international innovators to their capital markets.
This will depend largly upon how they choose to regulate their process from innovation to capitalization, if they improve on the poverty of US Regulations (most innovators are robbed by entrenched competition and the banks prior to arriving in Capital Markets) by designing the Chinese Tech Issue board in the favor of the innovator, they will attract the best ideas to the new market from all over the globe.
The US has stopped making Inventors Rich while the bankers demand all the profit. If the Chinese can regulate this to return a fair share of the innovation pie back to the innovator - their market will be a great success.