BEIJING -- A total of 110 companies have been listed on the Beijing Stock Exchange as of Friday, with a combined market value of nearly 200 billion yuan ($29 billion).

Established in November 2021, the Beijing Stock Exchange has become an accelerator, turbo-charging the growth of innovation-oriented small and medium-sized enterprises (SMEs).

At present, SMEs account for 77 percent of the 110 listed companies, and private enterprises account for 90 percent.

"SMEs and private enterprises are important forces for stabilizing economic growth and employment. The establishment of the Beijing bourse is of far-reaching significance for enhancing the ability of the capital markets to serve these companies," said Tian Lihui, a professor of finance at Nankai University.

The bourse has raised over 23.5 billion yuan through initial public offerings, which averages 210 million yuan for each firm.

For the next step, the Beijing bourse will implement a diversified trading mechanism, encourage all types of investors to enter the market, improve its product system and strive to prevent financial risks, a person in charge of the bourse said.