Xi says China to set up stock exchange in Beijing

China's President Xi Jinping on Thursday said the country would set up a stock exchange in its capital, Beijing, to serve small and medium-sized companies.

"We will continue to support the innovation-driven development of small and medium-sized enterprises by ... setting up the Beijing Stock Exchange as the primary platform serving innovation-oriented SMEs," Xi said in a video address at the opening of the China International Fair for Trade in Services.