Breakthroughs seen in rules for technology stocks' board

Major breakthroughs are seen in newly released regulations for the highly anticipated science and technology innovation board to be launched at the Shanghai Stock Exchange, providing more financing opportunities to technology-driven startups.

With two months' preparation, the China Securities Regulatory Commission and the Shanghai bourse released regulations on their respective websites on Wednesday, outlining eased access for listing with an experimental registration-based initial public offering system for the new tech board.

The Shanghai bourse will be responsible for auditing companies' IPOs, and the process will not take longer than six months. The commission will be in charge of the registration of new shares issued at the new board.