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China to create new stock exchange in Beijing for smaller companies: Xi

Market to be mainland's third after Shanghai and Shenzhen, but no time frame set for opening

China's new stock market will be in Beijing, Xi Jinping says.   © Reuters

SHANGHAI -- President Xi Jinping on Thursday said China would create a new stock exchange in Beijing to help fund smaller companies' pursuit of new technologies.

"We will continue to support the innovation and development of small and medium-sized enterprises and deepen reforms of the new third board by creating the Beijing Stock Exchange," Xi told the 2021 China International Fair for Trade in Services in Beijing by video.

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