The Shenzhen municipal government has identified an initial batch of enterprises that satisfy basic requirements for listing on Shanghai’s new tech board.
According to a report from stcn.com the Shenzhen Municipal Small and Medium-sized Enterprise Services Department (深圳市中小企业服务局) selected the initial group of 112 enterprises based on the key support sectors for the Shanghai tech board, as well a five listing criteria determined by the Shanghai Stock Exchange (SSE).
On 26 March the department teamed up with the SSE and the Shenzhen Securities Supervisory Department to conduct a specialist information event for enterprises planning to list on the new tech board.
The event provided detailed information to over 100 enterprises planning to list on the board, including the framework design of the tech board and detailed rules for applying to list.
Jia Changsheng (贾长胜), head of Shenzhen’s SME department, said Shenzhen is one of China’s leading tech innovation centres, and is currently host to around 14,400 tech enterprises.
According to Jia the tech board will help Chinese tech companies to use capital markets to achieve rapid growth, as well as have major significance for China’s tech innovation capability.
The SSE has already announced its approval of an initial group of nine companies who have applied to list on the tech board.