Shanghai's innovation board promises to be growth booster

The Shanghai Stock Exchange started accepting listing applications for its new Science and Technology Innovation Board from Monday and securities companies are busy testing their trading systems, meaning listings will happen soon, perhaps as early as mid-June.

It is expected that about 150 companies will be listed on the new board this year. The Nasdaq-style high-tech board, announced by President Xi Jinping in November at the opening ceremony of the first China International Import Expo, marks a major step forward in China's securities market reform as it further liberalizes the listing procedures and relevant trading rules.

The inauguration and healthy development of the new board will provide solid support for the development of the country's technology start-ups, and further promote the reform and opening-up of China's financial market.