(Yicai Global) April 16 -- High-quality tech startups are encouraged to list on the Shanghai Stock Exchange’s Nasdaq-style Star Market without delay, the deputy general manager of the Shanghai bourse said yesterday.

Dong Guoqun’s remarks come amid speculation that regulators might increase scrutiny of the financial health and tech credibility of potential listees.

Companies planning to go public on the Star Market must understand the board’s targets and make sure their initial public offering application documents are in good order, said Gong Wanyan, deputy general manager of the SSE’s issuance and listing service center.

The Star Market was launched in July 2109 to give tech startups a leg up with relatively looser requirements for listing. Around half of the 511 applications that the Star Market had received as of April 9 have been accepted, raising CNY340.7 billion (USD52.2 million), said Li Jun, deputy director of the Shanghai Municipal Financial Regulatory Bureau. The market value of the listed firms has reached CNY3.3 trillion (USD505.9 billion).

Editors: Tang Shihua, Kim Taylor