GEM board timetable review

China's GEM board debuted a week ago after ten years of preparations. CCTV reporter looks at the preparations for China's NASDAQ-style board during a decade of rapid economic growth.

The GEM Board was proposed by the Shenzhen Stock Exchange in 1999. In March that year, China's Securities Regulatory Commission, or CSRC, announced it was considering setting up a technology plate on the Shanghai and Shenzhen Stock Exchanges.

But GEM Board preparations were suspended in 2001 amid the downturn of the Internet economy. In 2005, the CSRC approved a small-to-medium enterprises plate on the Shenzhen Stock Exchange. This was seen as the "GEM Board-to-be".

In 2007, preparations for the GEM Board resumed. In March the next year, the GEM Board's regulations were drafted. But once again its launch was delayed, this time because of the global financial crisis.

In March this year, the CSRC unveiled measures for initial public offerings on the GEM board. Companies applied to list on the board and the CSRC set up a committee to review listing applications.

The GEM Board made its debut last Friday. The first listing of 28 stocks began trading on Friday.