Companies Given Green Light to Create Exchanges to Accommodate Trading
Several Shenzhen companies along with their partners was given the green light in creating six exchanges to allow the trade of commodities and other commodities in the city in which three of these base will be set up in the Qianhai Special Economic Zone. The new platforms will engage in the trade of precious and non-ferrous metals, minerals and agricultural products that is funded by large companies that has a registered capital of 100 million yuan.
As of the moment the city has already approved the establishment of around 30 exchanges, and 14 are already fully operational. Then in May 2013, the Qianhai Equity Exchange was launched and is now hosting around 3,600 enterprises which make it the largest equity exchange in mainland china based on the number of companies.
Qianhai will be offering preferential policies that are aimed to aid in the growth of these small and medium sized enterprises but not all of these SMEs were aware of the policies. Then the Shenzhen branch of the central bank along with the national banking, securities and insurance regulators are allowing Qianhai to offer 30 more preferential policies to aid SMEs. 83 Qianhai companies are applying to borrow from the 44 billion yuan in the cross border yuan loan program coming from financial institutions and since the program was launched in 2012 the cross border yuan loans that were applied by these firms is expected to exceed 50 billion yuan before the year ends.