중국 중소기업 자본시장의 발전과 우리나라에 대한 시사점

Abstract

Chinese capital market includes Mainboard market, Small and Medium Enterprises Board, Growth Enterprises Market Board, and ‘National Equities Exchange and Quotations’. Mainboard market holds the lead in the securities market, but SME-related boards are on the rapid growth. What implications do the growth of SME-related boards give Korean enterprises in China and Korea New EXchange(KONEX)?First, Korean enterprises in China came to get various financing routes. Compared with mainboard market, the listing procedures of Small and Medium Enterprises Board and Growth Enterprises Market Board are relatively not strict. Therefore, the enterprises that are not eligible for Mainboard market can also go public on the Small and Medium Enterprises Board or Growth Enterprises Market Board. Second, it is possible that Korean securities companies let them go public on the KOSPI or KOSDAQ after they select companies that are listed on Small and Medium Enterprises Board or Growth Enterprises Market Board. Third, Korea can draw the implications that help vitalize KONEX by analyzing the knowhow of the operation of Small and Medium Enterprises Board. Finally, it is necessary that Korea should build up off-board market, like National Equities Exchange and Quotations in Beijing