Assets worth US$74,627 a must for new board

Source: Xinhua | 2019-03-05

Individual investors who want to participate in the much-anticipated science and technology innovation board have to have an asset of 500,000 yuan (US$74,627) and at least two years of experience in securities trading, according to the latest regulations released by China’s top securities regulator.

“This is conducive to ensure that the sci-tech board runs smoothly at the beginning, under the precondition of adequate market liquidity,” the China Securities Regulatory Commission said.

China is preparing for the launch of a sci-tech innovation board in a bid to leverage financial reforms to boost the development of the high-tech sectors and to advance economic transition.

The new board will be launched on the Shanghai Stock Exchange and experiment with registration-based IPOs. China has 3,607 listed firms with a total market capitalization of 53 trillion yuan. However, the weight of sci-tech firms is limited.