Beijing Stock Exchange Launches With Some Big First-Day Gains

The Beijing Stock Exchange opened for trading Monday, marking the debut of a venue that China hopes will channel funds into innovative smaller companies, as it tightens its grip on companies seeking listings overseas.

The new exchange in the Chinese capital complements stock markets in Shanghai and Shenzhen, mainland China’s main financial centers. It also builds on an existing over-the-counter market in Beijing called the National Equities Exchange and Quotations, or NEEQ, which is sometimes known as the New Third Board.