Work on new tech board making steady progress

Preparatory work on the Shanghai Science and Technology Innovation Board is going on in full swing, with key stakeholders putting in place various procedures, ahead of the official launch later this year, a top regulatory official said on Friday.

Fang Xinghai, deputy head of the China Securities Regulatory Commission, said at a joint meeting with economic professionals at the ongoing two sessions in Beijing that the Shanghai Stock Exchange will complete the application vetting process in under six months, while the CSRC will finish the same in 20 working days. Other stakeholders are also speeding up preparatory work to ensure the quality of participants, he said,

Fang, however, did not offer clues as to when the first company would be listed on the bourse. He said there could be delays in the approval process if companies did not respond efficiently to the CSRC queries.