A step closer to second board

SHANGHAI: The publication of the draft regulations has brought the creation of the second board market in Shenzhen for listing start-ups closer to reality.

The China Securities Regulatory Commission has invited retail investors to submit written comments on the draft rules before March 31. Analysts who have read the draft said they are satisfied with most provisions that, they said, would provide an adequate and effective regulatory framework for the proposed market.

Analysts also agreed the smaller, new market is unlikely to drain capital from the main board market as it'll attract a different kind of investment, including venture capital.