Shenzhen Stock Exchange: ChiNext 300 Series Indices Launched
Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. jointly announced on January 7, 2013 to issue SZSE ChiNext 300 Index (Abbreviation: ChiNext 300, Code: 399012), which takes June 29, 2012 as base day, and 1000 point as base point, SZSE ChiNext 300 Growth Index (Abbreviation: ChiNext G, Code: 399667) and SZSE ChiNext 300 Value Index (Abbreviation: ChiNext V, Code: 399668).
Constituting an important part of multi-layer capital market development, accelerating the development of ChiNext Market is not only an essential requirement for forming pyramid market structure, but also of great significance to extend the capital market’s tentacle in breadth and depth to serve the real economy, and propel transforming economy’s development from factor-input type to innovation-driven type.
ChiNext becomes remarkably important in the multi-layer capital market over three years of development since its establishment, with the number of companies listed on ChiNext growing rapidly, the performance of companies listed on ChiNext improving steadily, and its valuation level tending rational. ChiNext Market index system gradually evolved into an important loop in the multi-layer capital market index system of the country. As another core scale index issued after ChiNext Index for ChiNext Market, SZSE ChiNext 300 Index will mirror the most updated development features of ChiNext Board Market in an all-around way, meeting the market’s needs for future development.
The development plan for ChiNext 300 and style indices follows the basic rules that dominated the development plan for SZSE 300, SME 300 and other style indices. Both the samples stocks for ChiNext 300 Growth Index and ChiNext 300 Value Index are consisted of 100 stocks, all of which are selected from the sample stocks for ChiNext 300.
ChiNext 300 Index covers 92% of ChiNext Market’s market capitalization, with its historical performance highly related to that of ChiNext Composite Index, and thus depicts the over-all feature of the ChiNext Market. As both ChiNext 300 Growth Index and ChiNext 300 Value Index adopt style indicators to select samples, the two further reflect the group features of ChiNext Market, providing effective indexation target for designing innovative style configuration tools.