More allowed to list on New Third Board

More types of investment vehicles, including private equity and hedge funds, and venture capital firms, are to be allowed to conduct market-making business on the over-the-counter share trading market, the country's top securities regulator said on Friday.

The move is being seen as a further effort by the regulator to break the dominance by securities firms of the National Equities Exchange and Quotations, the nascent and rapidly growing share-trading market aimed at attracting small and medium-sized companies.

"It is a positive step as it will expand the number of market makers, improve the pricing of the marketplace, and better serve listed small and startup firms," said Zhang Xiaojun, the China Securities Regulatory Commission's spokesman.