Science and technology are the foundation of national strength and prosperity, and innovation is the soul of national advancement. On 5 November 2018, President Xi Jinping announced at the opening ceremony of the China International Import Expo that China would launch a science and technology innovation board at the Shanghai Stock Exchange and experiment with a registration system for listed companies. The new board, or the STAR market, started trading on 22 July 2019, with the first 25 companies making their debut. As of 15 September 2020, 183 companies have been listed on the board. Such rapid progress fully reflects the Chinese government’s attention to capital markets’ role in supporting the real economy and the financial supply-side reforms.
On the occasion of the first anniversary of the STAR market, King & Wood Mallesons (KWM) experienced lawyers reviewed the reform achievements, operation and system construction of this capital market, bringing together the insights of all KWM practice teams into listing on the STAR market, technology enterprises and high-tech industries. They are more than willing to share with you the latest developments of technological innovation to explore the cutting-edge issues.
This publication is composed of two volumes. Volume I focuses on the policies and rules of the STAR market, business management, securities compliance and other issues of common concern to sci-tech enterprises. Volume II selects relevant articles in the seven major sectors of the new board, delving into the policies and focuses of each sector to offer you a thorough analysis of the representative listing cases. We hope this publication will help you understand and properly apply the relevant policies of the STAR market.
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