The countdown has begun for the launch of China's Nasdaq-style stock market. China will launch its own NASDAQ-styled Growth Enterprises Market (GEM), at the end of October or early November. 108 enterprises have applied for listing.
The applicants are mainly concentrated in six major industries, such as new energy, new materials, electronic information, biomedicine, environmental protection and energy conservation, and modern services, in coastal and developed areas.
If everything goes according to plan, the GEM, which will be on the Shenzhen Stock Exchange and is aimed at funding technology- and innovation-driven start-ups, would open for business.
Down the line, supporters say the GEM could prove a rival to the likes of New York's Nasdaq Stock Market and London's Alternative Investment Market as a place for small Chinese companies to find backing, though precedents for such markets in Asia aren't too encouraging (Source, http://economistonline.blogspot.com/2009_09_01_archive.html).
Lets wait for few more days to watch awaited the launch of GEM.
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