New listings surging on Beijing’s first stock exchange

A view of the new Beijing Stock Exchange at the Financial Street, in Beijing, China, November 15, 2021. - Reuters

BEIJING: A cohort of companies making their debut on Beijing’s first-ever stock exchange rallied on the first day of trading and this is welcome news to Chinese leaders who have been fighting an uphill battle to drive funding for small business.

All the 10 companies newly listed on the Beijing Stock Exchange more than doubled yesterday, with auto parts maker Henan Tongxin Transmission Co surging 511% and quartz crystal component maker AnHui Jing Sai Technology Co jumping 255%.