Nantong Great Electric Co Ltd, based in Chongchuan district, Nantong, goes public on the newly-established Beijing Stock Exchange on Nov 15. [Photo/WeChat account: ntjoy2012]

The highly anticipated Beijing Stock Exchange, located in the Chinese capital, started trading on Nov 15. Nantong Great Electric Co Ltd, or NTGEC, went public on the same day as the only firm from East China's Jiangsu province among the group of 10 choosing to list on the exchange's first day of trading.

Founded in 2002, NTGEC, located in Chongchuan district in Nantong, Jiangsu province, is a leader in the industry of producing wiring harnesses for commercial vehicles in China. It is mainly engaged in providing solutions for automotive wiring harnesses, as well as the research, development, production and marketing of auto parts such as low-voltage wiring harnesses for engines.

With its three national high-tech subsidiaries, NTGEC has formed a development layout consisting of a corporate headquarters, six production bases and a research institute. In 2020, it was recognized as a "little giant" enterprise – a title granted to outstanding high-tech small and medium-sized businesses with a high growth potential, advanced technology and a strong competitive edge.

This year, Nantong has seen a number of local companies go public. Seven companies have offered IPOs this year, bringing the number of listed companies in Nantong to 51.

The establishment of the Beijing Stock Exchange marks a key step forward in China's efforts to revamp its capital market, as the new bourse will primarily service small and medium-sized enterprises.

The novel bourse, built upon the existing National Equities Exchange and Quotations, also known as the "new third board", will play a different role in China's capital market compared with the Shanghai and Shenzhen stock exchanges while strengthening interconnectivity with the two exchanges.