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(Yicai Global) Feb. 25 -- China Securities Regulatory Commission hosted a forum in Shanghai on Feb. 20 to gather opinions on the rules and systems for the upcoming science and technology board under the eastern Chinese city's stock exchange.
Chairman Yi Huiman focused on issues related to the board's establishment and the registration-based listing system, the regulator said in a statement.
The forum was made up of representatives from tech innovation companies, securities firms, fund managers, private equities, accounting and law firms. Various market organizations proposed valuable ideas and suggestions on the issuance conditions, pricing mechanism, institutions for transactions and offloading, among others.
The CSRC and Shanghai bourse, as well as market institutions, are all duty-bound to setting up the board successfully, said Yi, adding they should prioritize innovations and core technologies, which are a focus of the reform. They should also respect market principles, strengthen market disciplines and regulations to form systems and mechanisms that can be copied and promoted, he added.
With the completion of the forum, the CSRC will officially end its public opinion solicitation for the board on Feb. 28.
China Asset Management has already submitted relevant materials on the registration of the publicly offered China Sci-Tech Innovation Hybrid Securities Investment Fund to regulators a few days ago, according to the CSRC. More than 20 fund firms have currently started to design products especially for the board and hybrid funds will hopefully become the first choice for publicly offered funds issued through the board.
Others are also starting studies on non-standardized special products that are oriented towards companies on the board.
Editor: William Clegg