China to push ahead with establishing science and technology innovation board
By Zhang Xinyue
At the opening of the first China International Import Expo in Shanghai on November 5, 2018, Chinese President Xi Jinping said that China will launch a science and technology innovation board on the Shanghai Stock Exchange and experiment with a registration system for listed companies.
Recently, the Shanghai Stock Exchange unveiled eight key tasks for 2019. The first is to set up a science and technology innovation board and implement a registration-based system.
The simultaneous launch of “science and technology innovation board and registration-based system” on the Shanghai Stock Exchange will be a revolution in the A-share market.
The purpose of this mechanism is to "better serve technology, innovation and high-quality economic development," said CSRC.
Dong Dengxin, director of financial securities institutes in Wuhan University of Science and Technology, noted that the new board will encourage high-tech start-ups to seek IPO and could be China's Nasdaq.