Gem trading regulations too stringent

The Shenzhen Stock Exchange has published draft regulations for listing on China's junior board, and says it hopes to launch trading in the new market in October.

In a public statement, the Exchange said its draft Growth Enterprise Market Listing Rules (深圳证券交易所创业板股票上市规则(征求意见稿)) are innovative in terms of regulations on restricted listing shares, sponsors' supervision responsibility, and delisting. But lawyers say the thresholds for listing on the new junior board are much higher than for counterparts in overseas markets, such as London's Alternative Investment Market or New York's Nasdaq.