Shanghai Bourse to Revise Draft Rules for New Sci-Tech Board
Liao Shumin
/SOURCE : yicai
Shanghai Bourse to Revise Draft Rules for New Sci-Tech Board

(Yicai Global) Dec. 3 -- The Shanghai Stock Exchange plans to improve its draft rules for the new science and technology board after governors and supervisors at the bourse talked them over at a conference this weekend.

Attendees at the symposium discussed the regulations concerning requirements for companies planning to list, underwriting and issuance, trading mechanisms, ongoing supervision and plans to experiment with a listing registration system, the exchange said in a statement on Dec. 1, the same day the meeting took place.

The sci-tech board, which President Xi Jinping proposed in early November to help smaller tech firms raise capital, should be market oriented and focus on a smooth entry onto the bourse, attendees agreed, saying the exchange should exert more effort toward innovation and implement listing reviews with stricter underwriting and pricing constraints.

As well as revising its draft rules, the exchange will accelerate preparation to meet guidelines set by the China Securities Regulatory Commission, it added.

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Keywords: Shanghai Stock Exchange , Tech Innovation Board