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Chinese GEM
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Chinese GEM

16:00 pm on October 23, 2009, the China Securities Regulatory Commission Chairman Shang Fulin announced the official launch of the GEM, member of the Political Bureau of the CPC Central Committee, the Guangdong Provincial Party Secretary Wang Yang, CSRC Chairman Shang Fulin GEM board.

 Also known as the second board market, namely, the second stock market, is the means of financing and room for growth in securities trading market outside the motherboard designed for small and medium-sized enterprises and emerging companies temporarily unable listed effective supply to the motherboard market.

GEM is becoming the fastest machine "create wealth" As of last Friday, according to the closing price of the secondary market in the 42 companies listed on the GEM produced a total of 142 billionaires. High price-earnings ratio, the issue price is expensive, ultra raise funds GEM Group characteristics.

China University of Political Science and Director of the Capital Research Center for the GEM market is showing "three high" phenomenon, Liu Jipeng recently to attend the first GEM Forum said that this phenomenon is not sustainable approach is to accelerate the pace of development, and to promote more more enterprises listed on the GEM, the bigger the size of the market.

Accordance with the original design, each of the companies listed in the GEM raise funds of about 200 million yuan, while the size of the 42 companies raise funds reached 24.7 billion yuan, an average of up to 588 million yuan each, the funds super-raised phenomenon is particularly prominent. Jinli Yang, director of the Institute of Shenzhen Stock Exchange, attended the forum, said the funds too much, for enterprise development, it is not entirely a good thing, and in the process of the development of the capital market, it does appear the "money drop "phenomenon."