Shanghai Stock Exchange Photo:CFP
The Shanghai Stock Exchange (SSE) on Tuesday launched the first batch of three enterprises listed on a sci-tech progress tier on the nation’s Nasdaq-style Science and Technology Innovation Board, also called the STAR Market, the Xinhua News Agency reported.
Li Chao, vice chairman with China Securities Regulatory Commission (CSRC), mentioned at an inventory ceremony on Tuesday that the most recent transfer marks a brand new step indicating the capital market’s help for technological innovation and the event of new high quality productive forces.
Li famous the position of the STAR Market as a “test ground” for reforms is turning into more and more obvious and has led the continual enchancment of the essential programs of your complete market, and has strongly supported a quantity of high-tech firms within the fields resembling built-in circuits, biomedicine, with accelerating momentum to serve technological innovation.
The transfer got here after the CSRC, the nation’s high securities trade regulator, introduced on June 18 the establishing of the sci-tech progress tier, highlighting higher help for high-quality tech enterprises that aren’t worthwhile but.
Boosted by a collection of the federal government’s supportive measures and the robust financial fundamentals, China’s benchmark Shanghai Composite Index briefly surpassed 4,000 factors throughout buying and selling on Tuesday morning, reaching its highest degree since August 19,2025.
On Monday, CSRC mentioned in a doc seen on its web site on Monday that it’s going to optimize the pricing mechanism for brand new share issuance and the principles for margin buying and selling, and strengthen oversight over algorithmic buying and selling, to defend small- and medium-sized traders.
Authorities will crack down on insider buying and selling, market manipulation, and deceptive and fabricated on-line data that disrupts the securities and futures markets, CSRC mentioned.
Global Times