BEIJING, May 30 (Xinhua) -- The Shanghai Stock Exchange said Friday that it would officially launch the SSE 580 Index in collaboration with China Securities Index Co., Ltd. on June 16, aiming to offer investors a broader range of investment options.

This aerial panoramic photo taken on Jan. 10, 2023 shows a view of Lujiazui area in the China (Shanghai) Pilot Free Trade Zone in east China's Shanghai. (Photo: Xinhua)

The index selects 580 stocks with relatively small market capitalizations and strong liquidity from companies listed on the Shanghai Stock Exchange, aiming to reflect the overall performance of smaller-cap listed firms.

According to the compiling rules, the index takes Dec. 28, 2018 as the base date, with a base point of 1000 points.

The index excludes companies with low ESG (environmental, social, and governance) ratings as well as large- and mid-cap stocks, then selects the top 580 remaining stocks by average market capitalization over the past year.

The SSE 580 Index, along with the SSE 50, SSE 180, and SSE 380 indices, forms a series of indices on the Shanghai Stock Exchange that are classified by market capitalization, reflecting the overall performance of listed companies across different capitalization tiers.