New tech board set to drive progress in science and innovation

Deputies to the National People's Congress have suggested that authorities should try to invite businesses with core innovative, independent technologies and global vision to conduct initial public offerings on a science and technology innovation board that will be launched on the Shanghai Stock Exchange this year.

The new platform will aim to accelerate Shanghai's efforts to build itself into an international financial center and a hub for scientific and technological innovation.

The deputies said greater emphasis should be placed on the potential competitiveness of such enterprises, rather than their current ability to generate profits.