Global Times: SMEs account for more than 80% of firms listed on Beijing Stock Exchange, as China accelerates inclusive finance

In China, the Beijing Stock Exchange (BSE) has emerged as a significant platform for small and medium-sized enterprises (SMEs), comprising more than 80% of its listings. Since its inauguration in November 2021, the exchange has actively contributed to the economic landscape by providing essential funding avenues for SMEs. It has successfully listed around 600 county-level enterprises and over 200 from ethnic minority regions, demonstrating its commitment to inclusive finance. This strategic focus on SMEs aligns with nationwide initiatives aimed at fostering economic dynamism, technological innovation, and advanced manufacturing capabilities. By listing high-tech enterprises, nearly 90% of which are recognized for their innovation, the BSE is seen as a critical driver of industrial upgrading and economic transformation. To date, BSE-listed companies have raised approximately 53.4 billion yuan (about $7.54 billion), with average financing around 200 million yuan per company. These financial supports are pivotal for smaller enterprises that often struggle to access traditional funding channels, facilitating their growth and expansion efforts. Recent efforts, highlighted during the Central Financial Work Conference in October 2023, stress the importance of various financial technologies to bolster this growth, including technology finance and inclusive finance. The BSE’s initiatives signify a concerted effort to propel SMEs to the forefront of China’s economic strategy, ultimately aiming to create a more resilient and innovative economy.