Trading starts at Beijing Stock Exchange

Trading has kicked off at the Beijing Stock Exchange, the third bourse in mainland China, set up to help startups secure funds.

Until now, an over-the-counter market in Beijing allowed stock brokerage firms and investors to make direct deals.

The new exchange, following ones in Shanghai and Shenzhen, allows more investors to buy and sell shares.

A total of 81 stocks started trading on Monday to mark the launch of the bourse, which serves mainly small and medium-sized enterprises. Investors who meet certain conditions, including the amount of funds they possess, are allowed to take part in trading.

Many startups are based in the Chinese capital. The government hopes that they will achieve technological innovations and play a key role in economic growth.

The Beijing bourse must figure out how to differentiate itself from the Shanghai and Shenzhen exchanges, which have newly emerging high-tech firms.