Shanghai Stock Exchange: Research and reserve a batch of policy measures to support technological innovation and the development of new quality productive forces

The government work report clearly states the promotion of deep integration between technological innovation and industrial innovation, and the implementation of a “green channel” mechanism for listing financing and mergers and acquisitions for key core technology enterprises on a regular basis. On March 10, the Shanghai Stock Exchange told Securities Times reporters that it will resolutely implement relevant work requirements, increase institutional inclusive supply to tech companies with breakthroughs in key core technologies, and expand diversified equity financing channels; further leverage the resource allocation function of the capital market to support regular financing and M&A for technology innovation and transformation and upgrading enterprises.

On one hand, maintain stability while making progress, and promote the implementation of existing reforms and the planning of new policies simultaneously. In accordance with the China Securities Regulatory Commission’s deployment, further deepen the “Eight Measures for the STAR Market” and the “1+6” reform of the STAR Market. Meanwhile, continuously evaluate and improve relevant institutional rules, research and reserve policies to support technological innovation and the development of new productive forces, and cautiously expand the scope of the fifth set of listing standards industry. Focus on cultivating key backup enterprises and continuously improve the forward-looking and precision of market services. Continue hosting future industry salons to gather strength and explore ways to enhance the capital market’s support for future industries.

On the other hand, adhere to a quality-oriented approach and strictly control the access to issuance and listing. Considering the overall layout of the national strategy for technological self-reliance and strength, deepen understanding of “hard technology,” and actively leverage the STAR Market’s role in serving the development of new productive forces; utilize the regular cooperation mechanisms with relevant national authorities to accurately identify “hard technology” enterprises. Better coordinate investment and financing development, reinforce the responsibilities of intermediary institutions as “gatekeepers,” and resolutely prevent low-quality enterprises with weak innovation capabilities and unclear market prospects from passing listing review. Strive to guide limited listing resources to truly support technological innovation. This is also an inevitable requirement to effectively protect investors’ legitimate rights and interests. (People’s Financial News)