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China to launch “Nasdaq” board for pilot registration-based IPO system

China is planning to launch a Science and Technology Innovation Board (STIB) at the Shanghai Stock Exchange for a pilot progrm of registeation-based system for initial public offerings, said Chinese President Xi Jinping in his keynote speech at the opening ceremony of the Shanghai International Import Expo on Monday.

The STIB, called by many the real Chinese version of Nasdaq, is aimed to improve the “weak links” of the stock market in serving technology and innovation companies and will make arrangements in terms of requirement for profitability and shareholding structure to enhance its inclusiveness and adaptability, said the CSRC . . .

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