Photo taken on July 22, 2019 shows the debut ceremony of China's sci-tech innovation board (STAR market) at the Shanghai Stock Exchange in Shanghai, east China. (Xinhua/Fang Zhe)
BEIJING, May 7 (Xinhua) -- China Securities Regulatory Commission (CSRC) amended its sci-tech attributes evaluation guidance to better support listing of hard tech companies, reported Xinhua-run Shanghai Securities News on Monday.
CSRC released on April 30 the revised guidance in accordance with related requirements to improve from the beginning quality of listed companies and strengthen risk prevention to boost high-quality development of capital market.
Under the amended guidance which entered into effect from April 30, CSRC raised appropriately the bar for R&D input, invention patents quantity and compound growth rate of operating revenue of companies applying for public listing on the sci-tech innovation board or STAR Market.
CSRC took the move to guide sci-tech businesses to focus more on sci-tech R&D input and industrialization of related achievements and facilitate quality improvement of STAR Market applicants.
On April 30, Shanghai Stock Exchange (SSE) also unveiled its interim regulation on application and recommendation for listing of companies on STAR Market to further direct intermediaries to recommend companies of higher quality, in particular those which boast critical and core technologies.
Industry experts noted that optimization of the sci-tech attributes evaluation indicators embodies the "hard tech"-centered positioning of STAR Market and will help the capital market better serve the national sci-tech innovation strategies and development of new quality productive forces.
(Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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