On 27 May, the SME Board was inaugurated. On 25 June, eight companies including Zhejiang NHU made debut on the SME Board. The launch of the SME Board was a major step toward the establishment of a multi-tier capital market system and paved the way for a second board market.
After seven years' innovation and development, the SME Board has become a unique, indispensable and independent segment in China's multi-tier capital market system. The SME Board has witnessed continuous expansion in size and gradual optimization of its industrial structure thanks to many high quality innovative issuers. The SME Board highlights its role in supporting independent innovation. As of 30 December, 2011, there were 646 companies listed on the SME Board with a total market capitalization of RMB 2.7 trillion (USD 428.6 billion). Total IPO proceeds were RMB 558.8 billion (USD 88.7 billion). Total trading value stood at RMB 6.9 trillion (USD 1.1 trillion) in 2011.
The institutional innovation of the SME Board was an exploration for the Chinese capital market in its emerging and transitional stage. While meeting the demands of the capital market, SME Board has laid a solid institutional basis for its rapid and sound development.