New policy encourages listed enterprises on sci-tech board

Xi'an High-tech Industrial Development Zone in Xi'an, Shaanxi province in Northwest China, announced new policies on Monday to encourage listed companies' participation on the Science and Technology Creation Board.

The administrative committee of the zone holds a press conference on Monday to announce the new policies. [Photo provided to chinadaily.com.cn]

The policy will give more support to the listed companies on the Science and Technology Creation Board, clarify the effects of incentives for staged listings, and ensure that the listed companies on the Science and Technology Creation Board will receive the policy support of up to 10 million yuan（$1.49 million）, according to Wang Hairuo, deputy director of the zone's administrative committee.

At the same time, Wang said, the policy has strengthened enterprises' incentives for R&D investment, by awarding up to two million yuan for R&D investment exceeding 10% of sales revenue of enterprises willing to participate on the board.

In addition, securities firms are also encouraged by the policies to invest directly in science and technology start-up enterprises in high-tech zones, with a maximum award of three million yuan per project of each securities firm, the deputy director said.

As one of the first state-level high-tech zones, Xi'an High-tech Zone is currently making every effort to promote science and technology innovation as its core, focusing on the electronic information industry in semiconductors and software information and the modern manufacturing industry in new energy automobile and biomedicine. It is also striving to build a Silk Road innovation resource aggregation and hard science and technology demonstration zone with global influence.

The industrial attributes of new technology industries and strategic emerging industries are highly consistent and in line with the high requirements of the Science and Technology Creation board.

The launching of the board was an important strategic deployment made by the state according to the current world economic and financial situation. It is based on the overall situation of reform and opening up in the country.

It is also a major institutional innovation of capital markets and will open a new path for local technological innovation enterprises in Xi'an.

Next, the deputy director said, the high-tech zone will take the opportunity to speed up the optimization of the financial ecological environment, increase support for the planned listed enterprises, and make a worthy high-tech contribution to the acceleration of the construction of the State-key city of Xi'an.