New sci-tech board makes steady progress

Shanghai Stock Exchange's proposed innovation-based trading platform gets applications from 9 companies

The science and technology innovation board at the Shanghai Stock Exchange is making steady progress as the bourse announced on Friday the list of the first nine companies that have submitted all the necessary application documents.

Available information shows that three of the nine companies specialize in the latest information technologies, two are high-end equipment manufacturers, two biomedicine companies, one new material maker and one new energy service provider. The average market value of the nine companies is estimated at around 7.28 billion yuan ($1.08 billion).