What is the main board market, the second board market and the third board market? What do you mean?

Main board market, second board market and third board market are as follows:

I. Main board market

The first board market, also known as the main board market, refers to the traditional securities market (usually the stock market) and is the main place for securities issuance, listing and trading in a country or region. (Shanghai motherboard, Shenzhen motherboard)

Second board and second board market

The second board market, also known as the Growth Enterprise Market, is a securities trading market outside the main board market of a country. Its clear positioning is to provide financing services for high-growth small and medium-sized enterprises and high-tech enterprises, and it is a capital market for small and medium-sized enterprises. Compared with the main board market, the standards and listing conditions of listed companies in the second board market are relatively low. (GEM, Shenzhen SME Board)

Third board and third board market

The third board market, also known as the agency share transfer system, is a market where securities companies provide share transfer services to unlisted joint-stock companies with their own or leased business facilities, which is also commonly called the equity trading market. (New Third Board)

I. Stocks

Stock is a part of the ownership of a joint-stock company and a certificate of ownership issued by a joint-stock company. It is a kind of securities issued by a joint-stock company to all shareholders as a holding certificate to raise funds and obtain dividends and bonuses.

Each share represents the shareholder's ownership of the basic unit of the enterprise. Every listed company will issue shares. Every stock in the same category represents the equal ownership of the company. The share of ownership of the company owned by each shareholder depends on the proportion of shares held by each shareholder to the total share capital of the company.

Stock is an integral part of the capital of a joint-stock company and can be transferred and traded. It is the main long-term credit tool in the capital market, but the company cannot be required to return its capital contribution. Stock is a kind of valuable securities, which is a stock certificate issued by a joint-stock company to investors when raising capital, representing the ownership of the joint-stock company by its holders (that is, shareholders). Buying stocks is also a part of buying a company's business, which can develop and grow together with the enterprise.

Second, the market function.

1, balance the contradiction between supply and demand

2. Commodity exchange and value realization

3. Service function

4. Information transmission function

5. Income distribution-the market distributes or redistributes the income of producers, consumers and middlemen, the main body engaged in trading activities in the market, through economic levers such as price, interest rate, exchange rate and tax rate. For example, if the price of an industrial product rises, the producer can increase his income, but if the middleman gains a lot, the producer's income will not increase much. At this time, the interests can be adjusted by collecting value-added tax.