No timetable for Tianjin´s OTC market

The vice mayor of the municipality of Tianjin says the timetable for promoting an over-the-counter stock exchange has yet to be finalized. But Cui Jindu has revealed that relevant paper work is close to completion.

Local authorities submitted a proposal to set up the exchange two years ago. And it was subsequently approved by regulators.

The OTC market will allow non-listed companies to transfer or trade shares under the supervision of the securities regulator. Thus expanding the fund-raising options for smaller firms. But the OTC market does carry strict requirements for investors. They will not be allowed to invest in the OTC market before it has had a chance to mature.