Preparation for China's science and technology innovation board is steadily underway and not affected by China-U.S. trade frictions, according to China's top securities regulator.
China will unswervingly promote the establishment of a science and technology innovation board and pilot an IPO registration system in line with strict standards and in a steady manner in a bid to enhance the capital market's services to improve the country's innovation capabilities of core technologies in key fields, said Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC).
The new board will help expand channels for tech and innovation firms' equity financing, improve their corporate governance and build a modern enterprise system, and help them grow stronger by leveraging equity incentives to encourage employee innovation, Yi said.
While describing the sci-tech innovation board as an "experimental field" for China's capital market reforms, Yi said that the CSRC would seek experiences that can be replicated and promoted based on evaluation of the new board's development, and facilitate the steady and healthy development of multi-tiered capital markets.
