Shenzhen Stock Exchange

Shenzhen Stock Exchange is one of the People's Republic of China's three stock exchanges, alongside the Shanghai Stock Exchange and the Hong Kong Stock Exchange. It is the 9th largest stock exchange in Asia by market capitalization (2008), and is based inShenzhen, China. Shen Ye Centre housing the Shenzhen Stock Exchange. The Shanghai and Shenzhen stock exchanges list more than 1,500 companies with a combined market capitalization of US$2,658.2 billion (2008), rivaling the Hong Kong Stock Exchange (US$2,121.8bn) as Asia's second-largest stock market behind the Tokyo Stock Exchange (US$3,925.6bn). Most of the companies within this market belong to listed company in which the Chinese government maintains controlling interest. With regards to the listed companies, the government has viewed the stock markets has means of raising capital, but there is no current interest to privatization or selling off the state controlling interest in the SOEs (State Owned Enterprises). Until 2005, two-thirds of the shares in listed companies were non-tradable on the exchange, creating a problem in which the tradable shares were valued higher than their proportion in the company. In 2005, as part of the Chinese stock issue reform, the non-tradable shares were made tradable and the holders of tradable shares were compensated by having extra equity in the company. The exchange has pre-market sessions from 09:15am to 09:25am and normal trading sessions from 09:30am to 03:00pm on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance. On November 22, 2007 the Shenzhen Stock Exchange broke ground for the new premises in down town Shenzhen. The expressive new building will be designed by Dutch Office for Metropolitan Architecture, the project is headed by architects Rem Koolhaas and Kunle Adeyemi and managing partner Victor van der Chijs. The new Shenzhen Stock Exchange is planned as a financial center with civic meaning. The external area is designed as a public space for festivals and gathering whilst the 250m tall tower will host the trading floor of high-tech and many new, high growth stocks as well as the Shenzhen Stock Exchange offices, registration and clearing house, the Securities Information Company and ancillary services in a gross floor area of 200,000m2.Growth enterprises Shenzhen will open in January 2009 a new NASDAQ-type exchange for high-growth, high-tech start-ups.