The market value of the small and medium-sized enterprise (SME) board in Shenzhen Stock Exchange has reached 43.5 billion yuan (about 5.3 billion US dollars), said its chairman Chen Dongzheng here Wednesday.

Chen, attending the developing market forum sponsored by the World Federations of Exchanges, said the Chinese government should "establish a multi-level capital market system and keep improving its structures and expanding its products."

He said it is very important to provide proper services to companies of different types and at different phases of development.

Approved by the China Securities Regulatory Commission, the Shenzhen Stock Exchange opened its SME board last year and 47 companies have been listed on the board.

The small and medium enterprises mushroomed after China carried out its reform and opening up policies in 1978. SMEs account for more than 99 percent of China's total companies, contributing more than half of the GDP. More than 75 percent of the new working positions also come from SMEs.

Source: Xinhua