SHANGHAI, (Reuters) – China’s Beijing Stock Exchange approved 10 applications to list shares Nov. 15. The filings were made late Wednesday night. This comes two months after Chinese President Xi Jinping launched the bourse.

Companies currently listed in the “innovation tier” of Beijing’s over-the counter National Equities Exchange and Quotations are listed. In separate statements, the companies stated their share will be listed at the Beijing Stock Exchange Monday.

The listed companies include Beijing Henghe Information Technology Co. Keda Automation Control. Anhui Jingsai Technology Co.    

China’s Securities Regulator has stated that the exchange will be an addition to existing bourses, such as Shenzhen and Shanghai. Investors are expecting a busy start to trade in light of frothy launches of other boards, such as Shanghai’s STAR Market https://www.reuters.com/article/us-china-markets-star-idUSKCN1UH03G in 2019.

    A set of rules for the Beijing Stock Exchange was published last month. To be eligible to trade, investors must own at least 500k yuan ($77.459) in stock accounts.

Zhou Yunnan (a veteran investor in New Third Board on which the new stock exchange is built) said that “it underscores how speed and efficient it was launching Beijing Stock Exchange”.

    “It’s imperative to launch the bourse, which is tasked with deepening China’s capital market reforms,” he added.

    China has stepped up support for small and medium-sized enterprises struggling in a slowing economy, while cracking down on tech giants under President Xi’s objective of “common prosperity”, a policy drive to narrow the gap between rich and poor.

    The Beijing bourse will employ a registration-based initial public offering (IPO) mechanism, which paves the way for the rollout of the listing system on China’s main boards, Morgan Stanley (NYSE:)

    Currently, only Shenzhen’s ChiNext, and Shanghai’s tech-focused STAR Market have adopted a U.S.-style IPO system.