(Yicai Global) June 12 -- China’s mainland stock markets closed out the week mixed, with Shenzhen’s ChiNext advancing after the cabinet said new rules making it easier to list on the startup board will be announced this month.

ChiNext, which tracks growth enterprises listed in Shenzhen, climbed 0.51 percent today to 2,206.76, up 1.02 percent for the week. Meanwhile, the Shanghai Composite Index fell 0.76 percent this week to 2,919.74, while the Shenzhen Component Index was little changed at 11,251.71.

The cabinet, or State Council, also said yesterday that so-called registration-based initial pubic offerings, a system that has been successfully piloted by Shanghai’s new Nasdaq-style Star Market, will be introduced for ChiNext this year.

Registration-based IPOs make it easier for technology startups to go public because the system is simpler and has lower threshold requirements.

Editor: Ben Armour