China’s top securities regulator on Wednesday rolled out new measures to deepen the reform of the Science and Technology Innovation Board (STAR) market to better serve sci-tech innovation.
The new measures were also to promote the development of new quality productive forces, according to the China Securities Regulatory Commission (CSRC).
The measures include further supporting the listing of enterprises making breakthroughs in new industries, new business patterns, new technologies, and improving the pricing mechanisms for Initial Public Offerings (IPOs).
Efforts will also be made to improve the financing of listed companies on the STAR board, optimise the trading mechanisms, strengthen monitoring, forestall market risks, as well as encourage merger, acquisition and restructuring,” the CSRC said.
“Since its launch in 2019, the STAR market has become the preferred listing destination for “hard-tech” companies, with its magnetic appeal continuing to grow.
“As of May 31, 2024 a total of 572 companies have been listed on the STAR market with a combined market capitalisation of 5.17 trillion yuan (about 726.5 billion dollars).
“The total amount raised through IPOs has reached 909.1 billion yuan,’’ CSRC said.(Xinhua/NAN)
By Vivian Emoni
