No other company would have agonised as much over the prolonged delay by regulators to launch the Nasdaq-style market than Shenzhen Capital Group (SCGC), whose very existence is part of the city government's ambition to build the mainland's venture capital sector.
But finally, executives at the Shenzhen government-backed firm are almost beginning to see an end in sight, with the technology-laden market expected to come on stream in the first half of next year. The good news comes on the back of the past year's accelerated efforts by Beijing to build a multi-layer capital market to better allocate the excessive funds.
Domestic private equity and venture capital funds were delighted that the long wait was over - signalled by recent official media reports of the State Council's stamp of approval - as the market provided a proper exit channel, said Li Wanshou, president of SCGC, in an interview.
Zhang Yujun, the general manager of the Shenzhen Stock Exchange where the bourse will be, was quoted as saying they expected the launch to be soon as work to build up the market by the central government was under way. On the part of the exchange, it claimed to have completed various unspecified preparations. Mr Zhang said the growth enterprise market was a major focus in the latest drive by Beijing to build a multi-layer capital market.
Market watchers expect the hi-tech market will require companies to have at least earned a combined profit of 10 million yuan in the last three years, with the last year recording five million yuan.
Lending weight were remarks last month from the China Securities Regulatory Commission vice-chairman Tu Guangshao, who called for a quicker launch.