Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Agricultural Development Bank of China
Economy

China's sci-tech innovation board starts trading

July 22, 2019


Abstract : China's sci-tech innovation board (STAR market) started trading on the Shanghai Stock Exchange Monday morning, with the first batch of 25 companies debuting on the board.

SHANGHAI, July 22 (Xinhua) -- China's sci-tech innovation board (STAR market) started trading on the Shanghai Stock Exchange Monday morning, with the first batch of 25 companies debuting on the board.

Establishment of the STAR market and the pilot registration-based initial public offering (IPO) system will support China's innovation-driven economic development and the capital market reform, Li Chao, deputy head of the China Securities Regulatory Commission, said at the debut ceremony.

The STAR board is the country's latest reform attempt to turn the A-share market into a more market-oriented and law-based one.

Unlike other domestic boards, it cuts listing application red tape, allows more market-based pricing, prioritizes information disclosure, and tightens delisting rules by piloting the registration-based IPO system, a popular practice in many developed markets.

Trading rules are also different, with no price change limits in the first five trading days. In following trading days, the board allows stocks to rise or fall by a maximum of 20 percent, higher than the 10-percent limit for most stocks on other boards.

First proposed in November 2018, the new board is designed to provide direct financing support for companies in the high-tech and strategic emerging sectors, such as new-generation information technology, advanced equipment, new materials, new energy, energy saving and environmental protection.

With much higher research and development investment than that of comparable firms listed on other domestic boards, the first batch of 25 companies on the STAR market are mainly in the new-generation information technology, advanced equipment and bio-medicine sectors

Scan the QR code and push it to your mobile phone

Keyword: science and technology innovation board stock market

Reading:

Cement prices falls for the seven consecutive weeks in China

China's rural policy bank ADBC reports assets of 7.1 trln yuan

Chinese enterprises see relieved financial burdens with social insurance contribution cut

China's central bank injects liquidity into market

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial