(Yicai Global) March 22 -- The preparation for the science and technology innovation board on the Shanghai Stock Exchange has made new progress. 

The Shanghai bourse released the list of candidates for the first members of the listing committee and the scientific and technical innovation advisory committee last night for public review. 

SSE will run competitive elections to eventually select 30 to 40 from among the total 48 as members of the listing committee based on its selection criteria and procedures. The number of seats for the advisory committee is also 48, and they will also be selected after public review. 

Members of the listing committee, who will mostly work part-time, will participate in the review of stock issues and company listings on the new tech board, especially issuers' applications and reports from the exchange, in accordance with the scope of duties the SSE delegates. The advisory committee will offer professional consultation and policy advice for the board and also review listings. 

Of the 48 nominees for the listing committee, four are from regional offices of the China Securities Regulatory Commission, three are from trade associations, three from the SSE, four from universities, 11 from law and accounting firms, three from insurance companies and wealth management firms, five from mutual funds and four from listed companies. 

Most were born between 1960 to 1970 and 1970 to 1980. Only Li Xiaoming, general manager at Fullgoal Fund's equity investment unit, was born between 1980 and 1990. 

Diverse Array

"The list innovates much in general," Fu Lichun, research director at Northeast Securities, noted to Yicai Global. The committee, which is large, has many members from diverse backgrounds, with fewer from regulators, he added. Most previously worked in law or accounting firms. 

The selection committee will conduct competitive interviews after publishing the list, and then confirm and publish the list of those appointed. 

Participants in high-tech industries and strategic emerging sectors, famous entrepreneurs, senior investment experts and scholars at scientific research institutions make up the bulk of the candidates.

Well-known investment experts, including Bao Fan, China Renaissance president and chief executive officer, Liu Xiaodong, Sailing Capital Management's president and CEO, Neil Shen, Sequoia Capital's global executive partner, Ping An Ventures General Manager and Managing Partner Zhang Jiang, Hillhouse Capital Group's founder and CEO Zhang Lei and Suzhou Private Capital Investment Holdings' CEO Lin Xianghong are all on the list, Yicai Global noted. 

The selection committee will review the contenders once again after the public review. 

The bourse will then appoint those finally selected and publish the list of formal members. 

Editor: Ben Armour