New science and tech board set to boost financing, innovation

Companies from the telecommunication, media and technology sector will dominate the initial public offering market on the mainland this year, as semiconductor, artificial intelligence, cloud computing, 5G networks and intelligent manufacturing firms attract interest from investors, according to global accounting firm Pricewaterhouse Coopers.

The launch of a science and technology innovation board at the Shanghai Stock Exchange this year will create a new financing platform for technological innovation firms on the Chinese mainland, the report said.

It said the board will become the "test field" for innovation in the Chinese mainland capital market, herald more opportunities for the domestic IPO market and be an important role model for capital market reforms.