news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

Two months after the release and implementation of the “Eight Articles on Science and Technology”, a series of policy measures and cases have gradually been implemented.

On June 19, the China Securities Regulatory Commission issued the "Eight Measures on Deepening the Reform of the Science and Technology Innovation Board to Serve Technological Innovation and the Development of New Productivity" (hereinafter referred to as the "Eight Measures on Science and Technology Innovation Board"), proposing more than 30 support and optimization measures in eight areas, including supporting the listing of hard technology companies on the Science and Technology Innovation Board, optimizing the issuance and underwriting system, refinancing, mergers and acquisitions, index products and market ecology.

As of August 19, in the past two months, two initiatives have been implemented in the issuance and underwriting of the Science and Technology Innovation Board; 14 merger and acquisition cases have been completed; new indexes have been continuously updated; nearly 60 companies have newly disclosed special action plans, and the overall coverage rate of the board has exceeded 70%.

The pilot program of issuance and underwriting continues to deepen

In the past two months, two measures have been implemented to deepen the pilot program of the issuance and underwriting system.

First, on August 16, the Shanghai Stock Exchange issued the "Implementation Rules for the Private Placement of Initial Public Offerings on the Shanghai Market (Revised in 2024)", which added the requirement for investors to hold the market value of the Science and Technology Innovation Board (the average daily market value in the first 20 trading days is more than 6 million yuan) for participating in the private placement business of the Science and Technology Innovation Board.

In the view of industry insiders, this move will help attract more incremental funds for the Science and Technology Innovation Board, guide funds to hold stocks of Science and Technology Innovation Board companies for a long time, and promote the allocation of financial resources to the field of science and technology innovation.

Second, the Shanghai Stock Exchange also released a press release on the same day as the release of the "Eight Measures for Science and Technology", clarifying that the high-price exclusion ratio for new stock pricing will be adjusted on a pilot basis on the Science and Technology Innovation Board.