10月9日起北交所全面进入“920代码”时代

Core Viewpoint - The Beijing Stock Exchange (BSE) has initiated the use of a new securities code (920) for existing stocks starting from October 9, marking a transition to an independent code system aimed at enhancing its market positioning for innovative small and medium-sized enterprises [1][3]. Group 1: Code Transition Details - The new code system will apply to 248 existing stocks, facilitating a clearer distinction between BSE and the previous New Third Board codes [3]. - The transition to the 920 code is intended to eliminate confusion caused by the previous code system, which included multiple prefixes (43, 83, 87) that could mislead investors regarding the nature of the stocks [3][4]. - The BSE's move to a unified code system is expected to improve the recognition of listed companies and enhance the overall identity of the exchange [3][4]. Group 2: Historical Context and Implementation - The transition process has been in preparation for over two years, with the China Securities Regulatory Commission (CSRC) advocating for the establishment of an independent code system to improve stock identification [4]. - The BSE began preparations for the new code system in November 2023, with the first stock under the new code (920002) expected to be listed by May 30, 2024 [4][5]. - The code switching for existing stocks will occur in phases, starting with a pilot program involving six selected stocks to ensure a smooth transition [5]. Group 3: Market Impact and Investor Engagement - The introduction of the unified code is anticipated to simplify information retrieval for investors, potentially attracting more capital into the BSE and differentiating it from the Shanghai and Shenzhen markets [6]. - This strategic move is seen as a step towards enhancing the BSE's image as an independent market, reinforcing its role as a platform for innovative enterprises [6].