The country's long-awaited NASDAQ-style second board could start around October with 40 listed firms, it was suggested Sunday.

The opening of the second board, or growth enterprise board (GEB), has been timed to coincide with the completion of the initial public offering reform on the main board.

New listings were suspended in September last year because of excessive pricing abuse and the China Securities Regulatory Commission is drafting new rules to plug loopholes.

"We expect the new market regulations to be completed in August, when we will begin explaining the requirements to intermediaries, corporations and investors," Wang Wenli, a member of the Shenzhen Stock Exchange (SSE), said.

The country's long-awaited NASDAQ-style second board could start around October with 40 listed firms, it was suggested Sunday.

The opening of the second board, or growth enterprise board (GEB), has been timed to coincide with the completion of the initial public offering reform on the main board.

New listings were suspended in September last year because of excessive pricing abuse and the China Securities Regulatory Commission is drafting new rules to plug loopholes.

"We expect the new market regulations to be completed in August, when we will begin explaining the requirements to intermediaries, corporations and investors," Wang Wenli, a member of the Shenzhen Stock Exchange (SSE), said.

(China Daily May 11, 2009)