GEM to launch October 23

China’s Shenzhen-based Growth Enterprise Market will launch on Friday, October 23, the Wall Street Journal reported. The China Securities Regulatory Commission hope that the long-awaited GEM will serve as a fund-raising channel for smaller companies and start-up businesses, while also introducing lesser-known companies to investors. The first 28 companies will make their trading debut on the GEM on October 30th. Regulators plan to limit speculation by suspending trading of a stock if it rises or falls 80%.