Compared with the main board, Growth Enterprise Market and science and technology innovation board, the subscription rules of new shares in Beijing Stock Exchange are significantly different. First of all, it cancels the market value threshold, and investors can only participate in the subscription regardless of whether they hold other stocks, which provides convenience for small investors. Secondly, when purchasing new shares, investors need to freeze the funds equivalent to the purchase amount. After the purchase, after deducting the new share fees, the remaining funds will be returned to investors.

The allotment of new shares of the North Stock Exchange adopts the methods of proportional allotment and time priority. This means that each investor has at least 1 shares to win the lottery. Although the competition may be fierce, everyone may participate. For example, suppose a new share issues 1 million shares. If Xiao Wang subscribes for 25, shares, the number of winning lots in theory is 25 shares, but it may be adjusted due to the placement rules. The first placement will be distributed in proportion. Xiao Wang may get 2 shares first, and the remaining 5 shares will be decided according to the purchase time in the second round.

Although this lottery rule provides opportunities for investors, especially small investors, it also has the disadvantage that the amount of frozen funds will increase with the number of purchases. For example, buying 1, shares requires freezing 2, yuan. Generally speaking, the lottery rules of the new shares of the North Stock Exchange are fair and increase market participation to a certain extent, but the fund management requires investors' financial planning.