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.