SHANGHAI (Reuters) - China has finalised regulations for a Nasdaq-style innovation board that promises to smooth the way for Chinese technology IPOs and, if successful, could raise Shanghai’s profile as a capital-raising competitor to Hong Kong and New York.
The stock market regulator published the rules for the tech board after considering opinions from the public on draft regulations that were introduced on Jan. 30. They took effect immediately.
Listings on the new board will be done according to a registration system that limits official powers to control the timing of IPOs. In addition, some companies that are not yet profitable will be allowed to go public.
Those provisions alleviate two major impediments to companies seeking to tap existing equity capital markets in China.
China has long wanted its tech champions to list closer to home, but many of the best-known Chinese technology firms, including Alibaba Group Co Ltd and Tencent Holdings, chose to raise funds in international markets.
New York and Hong Kong accounted for nearly 70 percent of the money raised through Chinese IPOs last year.
In another sign plans for the new board are progressing, the financial news website Caixin reported that the Shanghai Stock Exchange had completed recruiting employees for the board and they were slated to start work in mid-March.
About 92 News HD Live Main TV Channel of Pakistan:
92 News (also known as 92 News HD Plus (Channel 92) is a conservative Urdu language TV channel based in Lahore, Pakistan.
Mian Muhammad Hanif is the chairman of the channel.
This TV channel is a subsidiary of Madinah Group under Galaxy Media Group.
The channel's name, 92, is to celebrate the 1992 Cricket World Cup won by Pakistan. The number 92 is also the telephone country calling code of Pakistan, which is another major reason behind the channel's name.
92 News HD is Pakistan’s first HD Plus News Channel. Aims to bring credible & responsible News & important stories from Pakistan & around the World
We bring you Latest Pakistani and International News at 92 News Hd Plus to Read and Watch
We believe in genuine and true journalism, we do not prevail sensation just for ratings.
We do not hide news but never tend to add any unethical content or angling that goes against the norms of our religion Islam and Pakistan's culture.
تازہ ترین خبریں حاصل کرنے کے لیے فوری اطلاع کی اجازت دیں
آپ کسی بھی وقت دائیں طرف نیچے بیل آئیکن پر صرف ایک کلک کے ذریعے آسانی سے سبسکرائب کر سکتے ہیں۔