Markets > Stocks

​SSE's new board supplements A-share market

Xinhua Financein CFBOND
2018-11-07 09:39

Already collect


Chinese President Xi Jinping has announced that China will launch a science and innovation board at the Shanghai Stock Exchange (SSE) and pilot the registration-based system for the initial public offering of shares at home.

Xi made the announcement in his speech at the opening ceremony of the six-day China International Import Expo (CIIE), which opened on Nov. 5.

The SSE new board and registration-based system will be an "addition" and will not involve the existing parts of the capital market, according to the China Securities Regulatory Commission (CSRC) and the SSE.

The SSE said the board will be independent of the existing main board market, serving as the venue to pilot the registration-based system for the initial public offerings of new shares. The science and innovation board is intended to strengthen the weak links of the capital market in serving scientific and technological innovation, said the CSRC.

A series of innovative institutional arrangements will be applied to the science and innovation board.

The CSRC said differentiated arrangements will be made for the profit record and shareholding structure of innovative companies. The securities watchdog will guide the SSE in investor suitability management and encourage small and medium investors to join trading at this new board through public funds.

The upcoming science and innovation board and registration-based system will open up a new channel of direct finance for high-tech and innovative firms in China, especially the small and medium-sized ones, and fuel their rapid development, said a report of Shanghai Securities News on Tuesday.
Add comments

Latest comments

Latest News
News Most Viewed