The NEEQ (National Equities Exchange and Quotations) Union Association, sponsored by the Tianjin High-tech Companies Association, was established in Tianjin High-tech Zone on Monday.

The association, a professional body aimed at the NEEQ market, is a significant in supporting the development of Tianjin National Innovative Demonstration Area. It aims to activate the multiple-level capital market and services for high-tech small and medium-sized enterprises in the coastal city.

Liu Xiangdong, president of the NEEQ Union Association and general manager of Hi-tech Investment Co Ltd, said that the organization is the first professional association in Tianjin focused on resource integration, consultation, training and financing services for companies planning to be listed and already listed in NEEQ.

The association was launched by 30 companies and institutions, including securities companies, banks, agencies and investment institutes. The association will provide support for 30 to 50 new companies listed in NEEQ within this year and offer related companies financing products and financing solutions.

The innovation and development of high-tech SMEs are of great significance to the strategic development of Tianjin National Innovative Demonstration Area.

The association will influence the Beijing-Tianjin-Hebei area and take full advantage of initiatives to encourage innovation in the Tianjin National Innovative Demonstration Area, which is of great benefit to promoting the brand of the innovation area, activating the creativity ability of high-tech SMEs and improving the financing functions of the capital market.