New Third Board May Be Unveiled in 2012

The long-waited New Third Board, an over-the-counter (OTC) trading system, is likely to roll out this year. But the amended scheme has been changed from the original plan and industry insiders doubt whether it will be over-the-counter in nature.

At a press conference on April 5, officials from China Securities Regulatory Commission (CSRC) said enhancing OTC trading was key to the agency's work this year and it would build a nationwide OTC trading center to serve high-growth small and medium-sized companies. The scheme is based on the trial of a share exchange center set up at Zhongguancun Science and Technology Park in Beijing in 2006.