FinancialViews

LIU Shaotong: Registration-based IPO reform advances capital formation for science and technology innovation
June 15,2021

  LIU Shaotong, Executive Vice President of the Shanghai Stock Exchange attended the Night Chat by Huangpu River of the 13th Lujiazui Forum 2021 on June 10.

  LIU remarked that the registration-based IPO reform has entailed dramatic transformation in the ecology of the capital market in terms of market functions and structure. Echoing the strategy of innovation-driven development and highlighting the feature of “hardcore technologies” in the STAR Market, the reformeffectively supports and encourages the effort of “hardcore technology” companies to go public. 70% of the companies listed in the STAR Marketare in three pillar sectors,namelynew generation IT, biomedicine and high-end equipment,and industrial clustering has started to take shape. Connecting different stages of “fund raising, investment, management and exit” into a full link, it enables more efficient science and technology capital formation, concentrates factor resources around science and technology innovation and fosters a sound cycle between science and technology capital and real economy.