Shanxi Keda Automation Control Co was listed on the new Beijing Stock Exchange – which debuted on No 15 in the national capital – becoming the first enterprise from North China's Shanxi province to be listed on the country's third national stock exchange.

Among the first 81 companies listed on the new bourse, Shanxi Keda Automation Control saw its price soar 202.54 percent on the first day of trading.

The group manufactures mining robots and mining controls and other equipment and its public offering of 269 million yuan ($42.20 million) will be used for intelligent mining research and development and to supplement its working capital.

The enterprise was also the first company listed since Shanxi province launched a plan to promote its corporate listings in September.

"The listing of Shanxi Keda Automation Control Co on the Beijing Stock Exchange marked a good start for Shanxi to promote its corporate listings," said a senior official in Shanxi Provincial Finance Office.

Under the plan issued by Shanxi Provincial Government, the province aims to double the number of listed enterprises and the amount of direct financing, paving the way for its asset securitization rate to reach the national average during the 14th Five-Year Plan period (2021-25).

An official of Shanxi branch of China Securities Regulatory Commission said a good market environment for the province to expand its listings had been created with the implementation of pilot reforms of the registration system on the STAR Market in the Shanghai Stock Exchange and the ChiNext board in the Shenzhen Stock Exchange.

Adding to the momentum was the reform of National Equities Exchange and Quotations (NEEQ) system in recent years, as well as the debut of the Beijing Stock Exchange on Nov 15.

To date, the province has had 82 of its enterprises list on the NEEQ, with 60 in the base market category and 22 in the innovation market category.

Shanxi Duoer Jinze Coal Mine Machinery Co, Shanxi Dayu Bioengineering Co and Taiyuan Kuangji Electrical Co – all based in the province – are currently planning to apply for the NEEQ Select, the highest tier of the NEEQ.

Once those applications are approved, the three will be listed on the Beijing Stock Exchange as soon as possible.