The launch of China's Growth Enterprise Market (GEM) shall not be postponed any more, said director of Torch High-tech Industry Development Center under the Ministry of Science and Technology Zhang Jingan.
According to Zhang, the significance of GEM lies in the system innovation, which contributed to the success of some Hong Kong listed companies like Stone, Legend and Founder.
He said the GEM and Chinese high-tech companies are connected with the development of China's future.
Zhang compared the venture capital in China with that in the US. He said American GEM shifts risk to securities and only a concept is needed for listing. China's companies that apply for GEM listing are all very mature.
(People's Daily 05/21/2001)
