The capital market of Mainland China is fragmented into different stock
exchanges, each one with its own peculiarities. After a review of the main literature,
the paper aims at deepening their characteristics, by taking into account their specific
regulation. The current analysis also shows the main statistical data in terms of
size, traded volumes, number of listed companies, types of traded products of the
different stock exchanges. For every phenomenon considered, the study suggests
plausible explanations. The paper also provides further considerations about the
main problems of alignment with the international standards.
