BEIJING, July 20 (Xinhua) -- China's Nasdaq-style sci-tech innovation board, also known as the STAR market, saw a rapid expansion of listed companies in scientific and technological sectors including semiconductors and intelligent manufacturing, Economic Information Daily reported Monday.
Since the board started trading on July 22 last year, the STAR market has raised over 200 billion yuan (about 28.6 billion U.S. dollars) for 130 listed enterprises with a total market value of more than 2.42 trillion yuan.
The STAR-listed companies mainly focused on the new generation of the information technology industry, high-end equipment manufacturing and bio-pharmaceutical industry, said the newspaper, citing data from financial information provider Wind Info.
The listed companies showed a firm commitment to promoting innovation, with the average investment in research and development accounting for 13 percent of their revenues in the past three years.
According to the newspaper, the STAR board has adopted a slew of institutional innovations since its inception, rendering experience to the A-share market and the pilot registration-based IPO system on the ChiNext stock market, China's Nasdaq-style board for growth enterprises. Enditem
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