lead: reporter Zhao Xiaohui Li Yunlu Cong Feng the establishment of the second board market. This year’s government work report, Premier Wen Jiabao just a word, not only so many waiting for small and mediumsized enterprises to eat also in the two sessions on the amp; ldq reporter Zhao Xiaohui Li Yunlu Cong Feng the establishment of the market. This year’s government work report, Premier Wen Jiabao in a short sentence, which so many waiting for eat also in two sessions on one stone arouses 1000 billow. do poineering work board the market success, can produce excellent enterprises like Microsoft, also can greatly promote a country’s technological capabilities. Southwestern University of Finance and Economics professor Yi Minli representative said, according to the experience and the lesson, do poineering work board the approaching must adhere to marketoriented and transparent principles, to create with Chinese characteristics. science and technology is the first productivity, small and mediumsized enterprises are the main force of the technological innovation impetus. Deputies to the National People’s Congress, Sichuan Wuliangye group company chairman Tang Qiao said, but, for those who ‘hand a good invention, growth of SMEs in the bag shy acerbity’ speaking, a shortage of funds, difficulties has become their grows strong encountered the most vicious’ stumbling block’. according to statistics from the national development and Reform Commission show that at present, the development of new products more than 80% Chinese invention patents, 65%, is done by small and medium sized enterprises. However, at the same time display statistics, China’s small enterprises indirect financing accounted for up to 98%, the direct financing 2%. Tang Bridge representatives believe that the financing difficulties of SMEs in China is a common phenomenon, many companies looking for listed or financing road to seek development space, can often go to the wall than the more successful. The establishment of the second board market can give these enterprises to provide a good platform for financing, to help them break the funds achieve bigger and stronger. in fact, as early as in a few years ago, the gem was ready. However, while China does pioneering work board the preparations in full swing, the international stock market ushered in the network the bursting of the tech stock bubble. From the second half of 2000 began, thought to represent, hightech enterprises as the main object of investment in the world’s major stock markets began unilateral market fell. Rising more than ten months to 2001 March the index fell to 70%, by market capitalisation, investor losses of up to hundreds of billions of dollars. This leads to concerns about China gem. But, at the time Chinese motherboard market remains a large institutional problem situations, people are more worried about the GEM market will repeat the mistakes of the motherboard. now, experienced the reform of non tradable shares in China’s stock market has shrunk, although there are such problems, but the stock market is the most basic resource allocation and financing functions are made, which creates conditions for the launch of the gem. Yi Minli representative said. Since established in 2004, the board market of small and mediumsized enterprises are regarded as the gem rapid development, has accumulated certain experience for gem