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 the launch of a science and technology innovation board at the Shanghai Stock Exchange and the implementation of the registration-based IPO system at the opening ceremony of the China International Import Expo. The new board, or the STAR market, started trading on 22 July 2019, with the first 25 companies making their debut. As of 25 April 2022, 417 companies had 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.
Our Interpretation of the STAR Market and Typical Case Analysis released in 2020 was well received in the market. Amid changes in the rules, policies, and regulation of the STAR market and industry focuses in the past two years, our lawyers updated this pamphlet with their interpretation of the new policies and legal practice. Volume I focuses on the policies and rules of the STAR market, business management, information disclosure, legal practice, securities compliance, and other issues of common concern to sci-tech enterprises. Volume II selects articles about the major sectors of the new board, delving into the policies and focuses of each sector to offer a thorough analysis of the representative listing cases. We hope these will offer you some inspiration.
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