加快推出北证50ETF！事关北交所、新三板未来建设，重点来了

Core Viewpoint - The Beijing Stock Exchange (BSE) aims to enhance its role in serving innovative small and medium-sized enterprises (SMEs) through various initiatives, including the launch of the North Exchange 50 ETF and reforms in the New Third Board market [1][5]. Group 1: Launch of North Exchange 50 ETF - The BSE plans to accelerate the launch of the North Exchange 50 ETF and explore the introduction of after-hours fixed-price trading to improve investment convenience [3][4]. - The North Exchange Specialization Index was officially launched on June 30, providing a benchmark for the performance of the top 50 "little giant" companies listed on the BSE [3]. Group 2: New Securities Code Implementation - Starting from October 9, the BSE has switched all existing stock codes to the new 920 code, marking its transition to an independent coding system aimed at enhancing its market positioning [4]. Group 3: Reform of the New Third Board - The China Securities Regulatory Commission (CSRC) emphasizes the need for differentiated listing, information disclosure, and trading systems for the New Third Board to facilitate better integration with the BSE [5]. - The BSE and the New Third Board will operate as a unified entity, focusing on the characteristics and capital market needs of innovative SMEs [5]. Group 4: Promotion of Long-term Capital Inflow - The BSE is committed to fostering long-term capital and patient capital by implementing strategies to attract various types of funds, including social security and insurance, to invest in the BSE [6][7]. - The CSRC aims to enhance the market ecosystem for long-term investments by promoting public fund reforms and developing products suitable for long-term investment [7]. Group 5: Enhancing Company Quality and R&D Investment - The BSE encourages listed companies to focus on their core businesses and increase R&D investments, with a reported total R&D expenditure of over 9.1 billion yuan in 2024 [10]. - The average R&D intensity of listed companies reached 5.04% in 2024, with over 40% of companies increasing their R&D intensity year-on-year [10][11]. - The BSE has a total of 26,900 patents, with a year-on-year growth of 8.64%, indicating a strong focus on innovation among listed companies [11].