China's New Sci-Tech Board Readies for Final Systems Test on June 8
Liao Shumin
DATE:  May 28 2019
/ SOURCE:  yicai
China's New Sci-Tech Board Readies for Final Systems Test on June 8 China's New Sci-Tech Board Readies for Final Systems Test on June 8

(Yicai Global) May 27 -- The final checks for China's forthcoming science and technology innovation board will be carried out early next month, the Securities Times reported today.

Testing of the Nasdaq-style board's systems began earlier this month, the report said, citing to insiders close to securities brokerages. A final systems test will be done on June 8, and a successful conclusion would mean the new trading platform is ready, the report said.

The authorities hope to launch the board, which aims to make it easier for Chinese tech startups to go public, in the first half of this year. Applications from would-be listers started being accepted on March 13. More than 100 companies have applied, including Kingsoft Office Software, the firm behind mobile browser Cheetah and headed by Xiaomi founder Lei Jun, optical lensmaker Ricom Group, space enterprise Twenty First Century Aerospace Technology and Haier Biomedical.

"The testing has been smooth, and all functions related to the market and transactions have been verified, and are basically correct," the Securities Times reported, quoting the official in charge of the information technology department of a large broker in northern China.

"The development and testing of the board's application will be completed, with all functions being ready, after further optimization in the next stage," he added.

The Shanghai Stock Exchange organized banks, funds, brokerages and other financial institutions to hold the first tests on May 11, and has held them every Saturday since, the report said. The latest checked the functions of the depository receipt business, margin trading and short selling, block trading and liquidation, it added. 

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Keywords:   Sci-Tech Board