On March 20, Taicang Municipal Development and Reform Commission, Taicang City Industrial Investment Development Company, and Guotai Junan Securities jointly hosted an activity to provide guidance and a policy interpretation service concerning the New Third Board for small- and medium-sized enterprises (SMEs) in Taicang. Initiated in 2006, the New Third Board refers to China’s share transfer system for medium and small sized companies as a platform intended to facilitate transferring shares and raising funds for China's non-listed small, promising high-tech enterprises. Through this activity, SMEs got to know about the New Third Board’s latest development, policies, institutional design, function position and the encouragement policy of the Taicang government.

In the view of long-term development goals, China's future capital market can be divided into the main board market, the SME board market, a venture capital market, the third market, thae regional property market and a local property market.

Taicang attaches great importance to IPO management and has done a lot of work to optimize the market environment, improve the market mechanism, cultivate resources, and improve coordination services. It has introduced specific policies to encourage enterprises to make their debuts in the SME board market and the regional property market. Companies who get to transfer shares and raise funds on the Third Board can be awarded of up to 2 million yuan. After share reforms, companies that are ready to be listed will firstly be given rewards of up to RMB 500,000. Then, when the stock issue application papers are received by the National Equities Exchange and Quotations (a national security exchange market), the company can get another 500,000 yuan. Finally, the city will give awards of 1 million yuan to listed companies.