The Beijing Stock Exchange's nameplate is installed on Nov 14. The new bourse started trading the following day. [Photo/Agencies]

According to the official announcement of the first 81 companies, 87 percent are rooted in advanced manufacturing, modern services, high-tech services, and strategic emerging industries.

These industries have also played a major role in the vibrant progress of Hangzhou's private sector in recent years.

Statistics show that in September this year, 32 Hangzhou companies were newly recognized by the Ministry of Industry and Information Technology as "little giants", bringing the total number to 53. "Little giant" is a nickname for leading SMEs that specialize in niche sectors, command a high market share, and boast strong innovative capacity and core technologies. 

Continuous investment in research and development was key to these companies realizing technological breakthroughs as their total expenses on R&D investment has accounted for an average of 12.27 percent of their annual revenue.

BSE's opening has no doubt sent a positive signal to these companies, and it can help them solve problems related to direct financing, open the door to IPO capitalization, and create a healthy investment and financing environment.

"An unimpeded financing environment will in return offer us a stable, innovative, and entrepreneurship-oriented business environment," said Shou Bingyan, chairman of Transtecno, a manufacturer in the reduction gears industry.

Shou said that Transtecno is currently striving to improve the quality of its products, build its brand, and replace imported products. He expressed hope that the BSE will not only solve SMEs' financing difficulties but also create a friendly climate for the development of their technology, products, and market feedback, which is very important to SMEs.