So what exactly qualifies an innovative company for the new listing program and CDR issuances? The China Securities Regulatory Commission is prioritizing cutting-edge technologies and applying strict financial standards in the screening process.

Guan Qingyou, the chief economist with Rushi Financial Research Institute -- said that only seven overseas listed companies now can issue Depositary Receipts in the Chinese mainland. Those include Tencent, Alibaba, China Mobile, Baidu, JD.com, NetEase and China Telecom. Companies that have not listed overseas will be candidates for the CDR program after posting at least 3 billion yuan in annual income and being valued at 20 billion yuan or more. The CSRC will establish a committee to select the pilot companies and will treat domestic and foreign investors equally.