T +0 transaction pending launch date in mid warrants after Shenzhen debut.

<P Align=left> </ P> <P> yesterday, Zhang Yujun, general manager of the Shenzhen Stock Exchange said that following this year to actively promote the share reform, the Shenzhen Stock Exchange next year will be the focus of the work system innovation, accelerate development, including the "T +0" .transactions, but the system's launch date has not yet been determined. .Zhang Yujun also said companies such as New Steel and Vanadium warrants after December 15 will debut. .</ P> <P> Zhang Yujun told the Post reporter, the Shenzhen Stock Exchange are paying close attention and study a series of new market trends and innovative possibilities, including "T +0" trade and the gradual derivatives market innovation. .Zhang Yujun, said, "Securities Law" and "Company Law" amendment to the system of innovation for the Shenzhen Stock Exchange provides a very good space, is currently being revised including articles, exchange, trading rules, listing rules and a series of documents for next year's exchange .lay the foundation for institutional innovation. .</ P> <P>, however, said Zhang Yujun, T +0 trading system has yet to determine the final launch date, T +0 in full swing and one is unlikely to be carried to a certain degree of share reform, the market is ripe for further .implementation. .</ P> <P> Another focus of concern for the market --- warrants be formally listed in Shenzhen, said Zhang Yujun, the exchange will be formally ended December 15 commissioning of warrant trading system, companies such as New Steel and Vanadium .Warrants will be held after the December 15 debut. .</ P> <P> In addition, although the previous version of the "Securities Act" shows that the IPO will be delegated the right to review exchange. .Zhang Yujun, but pointed out that when the small plates can really start issuing new shares and refinancing, the CSRC still decided to gate opening is no timetable for financing small and medium plates. .A source close to the Shenzhen Stock Exchange and the source told reporters that the Commission on the issue of new shares is no clear conclusion, but in January 2006, the most likely "would have" the right to review the Commission still exercise, but the IPO and .refinancing of the company schedule to grasp by the Exchange. .</ P> <P> Shenzhen Stock Exchange, except around the revised "two laws" to amend the relevant rules, will continue to improve product innovation, in the traditional stock and bond business, based on a multi-level capital market system. .</ P> <P> Finally, in addition to the upcoming warrant, the Shenzhen Stock Exchange is also preparing for the launch and derivatives ETF's stock index futures, stock futures, index class innovation. .</ P>.