On November 15, the Beijing stock exchange (hereinafter referred to as the Beijing stock exchange) officially opened. Another major reform measure of China's capital market has been implemented. Since the announcement of the establishment of the Beijing stock exchange on September 2, the preparatory work in just 75 days has been intense and steady. Every move and progress of the Beijing stock exchange has attracted much attention from all parties. The reason why the Beijing stock exchange has such a "star effect" is largely due to its inherent "temperament" of service innovation. As China's first corporate stock exchange, the establishment of the Beijing stock exchange is a major decision and deployment made by the central government focusing on building a new development pattern, an internal need for the capital market to better support the development and growth of small and medium-sized enterprises, an inevitable requirement for the implementation of the national innovation driven development strategy, and an important measure to comprehensively deepen the reform of the capital market under the new situation. On the first day of market opening, 81 stocks will be traded, of which 71 are selected enterprises and transferred to the Beijing stock exchange, and 10 are new shares directly listed on the market opening. The first batch of enterprises have excellent quality, stable operation and outstanding growth. They are "top students" selected from more than 7000 new third board companies. According to the introduction of the Beijing stock exchange, as of November 12, more than 2.1 million investors have made an appointment to open the qualified investor authority of the Beijing stock exchange. After the opening of the market, more than 4 million investors can participate in the trading of the Beijing stock exchange, and 8 public funds with the theme of the Beijing stock exchange have been approved... This shows that the market is full of expectations. Respond to expectations and closely focus on the theme of serving small and medium-sized enterprises. Small and medium-sized enterprises have a large number and a wide range, a strong driving force for innovation and outstanding resilience and vitality. They have great potential in building a new development pattern. However, due to the influence of enterprise rules, development stage and other factors, the ability of small and medium-sized enterprises to obtain financial services is relatively weak. Beijing stock exchange is positioned to serve innovative small and medium-sized enterprises. In its construction, it will closely focus on the main body of small and medium-sized enterprises, highlight "earlier, smaller and newer", and dislocation development and characteristic development with Shanghai and Shenzhen Stock Exchange. Respond to expectations and firmly grasp the key to supporting innovation and development. For a long time, it has been a worldwide problem not only to effectively assist the financing of small and medium-sized enterprises, but also to control financial risks. At present, there are more than 150 million market players in China, including more than 225000 high-tech enterprises. The opening of the Beijing stock exchange will actively build a basic system in line with the characteristics of small and medium-sized enterprises, synchronize the pilot registration system, continuously enhance the inclusiveness and inclusiveness of the system, promote the formation of the aggregation effect of science and technology, innovation and capital, build a financial service system covering the whole chain of small and medium-sized enterprises, and explore the "China plan" for the development of Inclusive Finance in the capital market. Respond to expectations and always focus on building a "main position". The establishment of the Beijing stock exchange on the basis of the selected layer of the new third board is an institutional innovation. After the opening of the Beijing stock exchange, the selected layer of the new third board does not exist, and only the innovation layer and the basic layer are retained. If an enterprise wants to be listed on the Beijing stock exchange, it should first enter the innovation layer. The Beijing stock exchange is the "leader", and the innovation layer and foundation layer of the new third board are the foundation, forming a rich reserve of listing resources of the Beijing stock exchange. Give full play to the "leading" leveraging and "back feeding" role of the Beijing stock exchange, constantly invigorate and strengthen the innovation layer and basic layer, provide market-oriented and differentiated services for small and medium-sized enterprises at different levels, and form a progressive growth path of small and medium-sized enterprises and a healthy multi-level market development ecology. Serving the real economy is the natural mission of the capital market. Build a bridge between financial capital and innovative small and medium-sized enterprises through the Beijing stock exchange, both inclusive care and strict supervision, so that the "new seedlings" of innovative small and medium-sized enterprises can thrive in the fertile land of the Beijing stock exchange. Beijing stock exchange is still a "newborn". It has a long way to go to give full play to the market function and improve the market recognition. All parties need to work together to build and develop Beijing stock exchange well. (Xinhua News Agency)