False money company aims for stock market listing

Selling false paper money, used on traditional occasions to pay respects to ancestors, is not the only business for a Chinese folk culture company, which is applying for listing on the stock market.

Guangdong Yixiang Folk Culture Co, which produces and sells products including false paper money that is mainly used in ancestor worship and sacrificial ceremonies, applied to the National Equities Exchange and Quotations to be listed on the New Third Board, aiming to facilitate its business expansion.

The New Third Board, which was launched in late 2012, has so far attracted some 2,500 firms, mostly in the technology sector.