By Zhang Chenghui, Zhang Yuan　

Date: 2003/03/21

Abstract:　

The paper gives an introduction of the features and structure of the petty securities market in the United States. It analyzes the features of the small-scale capital market of NASDAQ and the common features and differences between the small-scale capital market of NASDAQ and the national NASDAQ. It also illustrates the differences between OTCBB and the small-scale capital market of NASDAQ as well the characteristics of pink sheet market.