China is reforming the new third board, the country's largest over-the-counter equities market, to make it more attractive to high-growth and technology companies. In a move to differentiate high-quality companies from the vast number of OTC-traded stocks, firms listed on the board will be split into two categories reflecting the maturity of their business models. The top category, called the innovation level, will include companies satisfying one of three sets of criteria - profitability, revenues and market capitalisation. All the others fall under the basic level, according to rules issued by the National Equities Exchange and Quotations System, the official name of the third board. The changes will take effect on June 27. All rankings will be reviewed annually.
展开▼
