A Comparison Between Shenzhen SME Companies and Hong Kong GEM Companies

• The different characteristics and the contrasting performance are mainly attributable to some fundamental differences such as: the listing requirements of the SME Board and the GEM Board; the rules and regulations governing the two boards; and the investor mix and the investor behaviour of the two markets. The listing requirements as well as the rules and regulations for the SME Board are in general more stringent than those for the GEM Board.