Bourse for overseas Chinese firms opens

The Overseas Chinese Board, an equity trading center dealing in stocks of local companies promoted by overseas Chinese, was launched in Shantou, Guangdong province, on Tuesday.

Part of a pilot economic and cultural zone for overseas Chinese, the bourse will seek to boost financial services for local small and medium-sized businesses, particularly those engaged in innovation.

According to Chen Maohui, Party chief of Shantou, the new stock market will target local businesses promoted by overseas Chinese. They could list on the bourse after meeting the exchange's shareholding pattern requirements.