• The SZSE is one of three securities exchanges in Mainland China, with the other two being the Shanghai Stock Exchange and the Beijing Stock Exchange
• The exchange is home to the SZSE 100 and SZSE Composite indexes, among others
• The SZSE was the first stock exchange in China to launch an SME board in 2004, which provides a platform for small and medium-sized enterprises to raise capital
• The SZSE launched its ChiNext board in 2009, which specializes in listing innovative and high-growth companies in China's tech and other emerging sectors
• The exchange launched the Shenzhen-Hong Kong Stock Connect in 2016, which allows investors to trade shares listed on both exchanges
• The SZSE has implemented a number of measures to improve corporate governance among listed companies, including requiring independent directors to make up at least one-third of the board
• The exchange launched its first green development index in 2017
• SZSE is home to some of China’s largest tech companies, such as Tencent, BYD, DJI, etc.
• The SZSE is also home to the world's first index futures based on a Chinese domestic index, the FTSE/Xinhua China 25 Index Futures
• There are a total of 1,500 companies listed on the main board, while the remaining 1,200+ are listed on ChiNext

The listing requirements on the Shenzhen Stock Exchange can vary based on the relevant board:

Main Board:

• The company must have a minimum registered capital of RMB 30 million 
• The company must have a profitable track record in the past three years and have no accumulated losses
• The company must have a minimum of 400 shareholders, with no more than 50% of the shares held by the 10 largest shareholders
• The company must have a public float of at least 25% of its total share capital
• The company must meet certain financial requirements, such as having a net profit of at least RMB 10 million in the most recent year, and a net profit of at least RMB 30 million in the past three years

SME Board:

• The company must have a minimum registered capital of RMB 10 million 
• The company must have a profitable track record in the past two years and have no accumulated losses
• The company must have a minimum of 200 shareholders, with no more than 50% of the shares held by the 10 largest shareholders
• The company must have a public float of at least 25% of its total share capital
• The company must meet certain financial requirements, such as having a net profit of at least RMB 5 million in the most recent year, and a net profit of at least RMB 10 million in the past two years

ChiNext Board:

• The company must be a high-tech, innovative, or strategic emerging business
• The company must have a minimum registered capital of RMB 30 million
• The company must have no accumulated losses in the past two years
• The company must have a minimum of 200 shareholders, with no more than 50% of the shares held by the 10 largest shareholders
• The company must have a public float of at least 25% of its total share capital
• The company must meet certain financial requirements, such as having a net profit of at least RMB 5 million in the most recent year, and a net profit of at least RMB 10 million in the past two years

The Shenzhen Stock Exchange generates revenue through multiple sources, such as:

• Listing fees - the exchange charges nonrecurring listing admission and annual listing maintenance fees to constituent companies 
• Trading fees - market participants pay a fixed percentage for every transaction made on the exchange (both sides of the order)
• Market data - the Shenzhen exchange charges fees for the real-time data it provides to market participants and institutional investors, such as hedge funds and asset management companies
• Technological services - the exchange also generates revenue by allowing market participants to use their proprietary digital trading systems

SZSE Listing & Other Fees

The Shenzhen Stock Exchange has taken important steps in reducing the listing fees on the exchange and has shifted its focus to revenues generated by market data services. Some of the fees charged for these services include:

• $60,000 annual license fee for L1 and L2 data
• $20,000 annual license fee for options data
• Minimum monthly subscriber fee of $800
• $5,000 basic market price (BMP) fee per entity ($10,000 per group)
• $2,000 annual data feed fee
• Annual $45,000 fee per algorithmic trading group
• Annual $18,000 fee per algorithmic options trading group

These are only a handful of fees charged by the Shenzhen Stock Exchange, which generates a bulk of its revenues by licensing its trading systems and charging fees to institutional market participants.

The ChiNext board is a growth enterprise market similar to Nasdaq that was launched by the Shenzhen Stock Exchange in October 2009. 

The board is designed to provide a platform for innovative, high-growth companies in Mainland China that are not yet ready for listing on the main board of the SZSE or the Shanghai Stock Exchange. 

In general, for a company to obtain a listing on the ChiNext board, it must have a minimum market capitalization of RMB 1 billion (approx $155 million) and must have a profitable track record over the past 12-month period. 

Once listed, companies on the ChiNext board are subject to ongoing disclosure and reporting requirements, including quarterly and annual financial reporting, as well as regular updates on key business developments. Trading on the board is conducted in a fully automatic manner. 

The SZSE Index is the most followed index on the Shenzhen Stock Exchange and tracks 100 of the largest companies listed there. 

What Is The SZSE 100 Index?

The SZSE 100 is a market capitalization-weighted index that includes 100 of the largest companies listed on the SZSE. The index is composed of companies from a variety of industries, including information technology, financial services, consumer discretionaries, etc. 

The SZSE 100 Index is considered to be a key benchmark for the performance of the Shenzhen stock market and is widely used by investors and analysts to track the overall health and trends of the market.

The ticker code for the SZSE 100 Index is 399333. 

SZSE 100 Sector Weighting & Largest Constituents

The top 10 constituents of the SZSE 100 are weighted as follows:

The SZSE Composite is the benchmark index of the Shenzhen Stock Exchange, which tracks the top 500 companies listed on the exchange. 

What Is The SZSE Component?

Similarly to the SZSE 100, the composite index is also weighted by market capitalization. The index includes both A-shares and B-shares, which are different classes of shares that are denominated in CNY (A-shares) or foreign currency (B-shares).

The SZSE Composite Index is considered to be a broad-based benchmark for the performance of the Shenzhen stock market and is widely used by investors and analysts to track the overall health and trends of the market. 

SZSE Component Sector Weighting

SZSE 100 and Component are not the only indexes available on the Shenzhen Stock Exchange. Others include:

• SZSE 200 - the SZSE 200 is a free-float adjusted, market capitalization-weighted index that tracks the 200 largest companies listed on the Shenzhen Stock Exchange. The index consists of SZSE 200 Price and SZSE 200 Return indexes
• SZSE 300 - the SZSE 300 is another free-float index that includes the 300 largest companies listed on the exchange
• SZSE Composite - the SZSE Composite is a broad-based benchmark index of the Shenzhen Stock Exchange and tracks all listed companies
• SZSE 1000 - similarly to other indexes, the SZSE 1000 is a market capitalization-weighted index that tracks the 1000 largest companies listed on the exchange. The ticker code for the index is 399011

• The Shenzhen Stock Exchange is one of three equity exchanges operating in Mainland China - with the other two being in Shanghai and Beijing
• The SZSE is notorious for its strict listing requirements for prospective companies 
• The exchange is composed of three boards - Main Board, SME Board, and the ChiNext Board
• The ChiNext board is a Nasdaq-style section of the exchange that is home to a bulk of the information technology companies listed there
• The most important and widely followed indexes on the Shenzhen Stock Exchange are SZSE 100 and SZSE Component, which are often used as benchmarks for the exchange