44 Firms Accepted For Shanghai’s New High-tech Board

FORTY-FOUR high-tech companies have been accepted for listing on the Shanghai Stock Exchange’s new technology innovation board, the bourse said on Wednesday.


Among them, seven new applicants were accepted by the Shanghai stock regulator today, including two Shanghai-based firms. Their businesses ranged from software and information services to computers, communications and biomedicine.


The new technology innovation board, a Nasdaq-style tech board announced in November by President Xi Jinping, is expected to start trading in the middle of the year.


It represents a new era for the Chinese capital market.


Among those newly accepted are Shanghai-based Medicilon Inc and Espressif Systems.


Medicilon is a contract research organization, which provides one-stop integrated services including biology, chemistry for global pharmaceutical clients.


Espressif Systems is a chip designer developing technologies of Wi-Fi, Bluetooth and Internet of Things.


More firms are in the process of applying, mainly semiconductor and some red-chip architecture firms, according to securities firms involved the application, who declined to be identified.


Source: SHINE