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The Shenzhen Stock Exchange and Shenzhen Securities Information Co., Ltd. recently made an announcement that the ChiNext basic market index with the code (399640) and the abbreviation (ChiNext Basic) will be released on Jan.16, 2012 in order to reflect the comprehensive changes in ChiNext-listed securities prices and trend in the overall market as well as provide investors with analysis tools and tradable index product. The index takes December 31, 2010 as base day and the basis point of 1000.
According to the complication plan, the sampling space of the index spans non-ST stocks having listed on ChiNext board for certain period, and the index has up to 85 percent coverage of circulation market value relating to the sample space. The number of the sample stocks will be uncertain and regularly adjusted with the changes in the market size and structure. By the end of December, 2011, there had 281 companies listed on ChiNext board with the total market value of 743.4 billion yuan, accounting for one fifth of all companies listed on Shenzhen Stock Exchange.
According to the briefing, the indexes targeting market value coverage have gotten the widespread application on the international market, with the core goal of locking up market value coverage, making the indexes keep representative for long period. The index was developed by Shenzhen Securities Information Co., Ltd. at the request of China Southern Fund Management Co., Ltd. and China Southern Fund Management Co., Ltd. is actively striving to the development of index products.
