The ChiNext, China's NASDAQ-style board, celebrated its ninth anniversary.
Established on Oct. 30, 2009, the ChiNext, featuring fast growth start-ups, has played a crucial role in providing financial support for the real economy in China to promote high-quality development.
The following are key facts and figures on the development of the ChiNext board in the past nine years:
-- By the end of October, the number of ChiNext-listed companies has risen from 28 to 734, with the market value totaling 4 trillion yuan (about 575 billion U.S. dollars). High-tech firms accounted for more than 90 percent.
-- The average business revenue of ChiNext-listed companies registered a 20-percent compound annual growth, jumping from 305 million yuan in 2009 to 1.553 billion yuan in 2017. The average net profit rose to 125 million yuan in 2017 with a 9-percent increase in the past nine years.
-- The ChiNext has attracted many start-ups. More than 60 percent of information technology companies went public on the board, followed by 40 percent in Internet culture and 30 percent in medical health.
-- ChiNext-listed companies' R&D expenditure accounted for more than 5 percent of their business revenue.
-- More than 380 billion yuan has been raised by ChiNext-listed companies through initial public offerings (IPOs) in the past nine years.
-- Listed companies tend to have easier procedures, lower cost and higher success rates when applying for loans from banks. After making IPOs for one year, ChiNext-listed companies saw their bank loans surge more than 40 percent year on year.
-- By the end of September, ChiNext board has seen 372 reorganization deals totaling 331 billion yuan.