Latest news with #Nasdaq-style
RTHK
22-05-2025
- Business
- RTHK
Beijing clears way for tech firms to list overseas
Beijing clears way for tech firms to list overseas Yan Bojin, chief risk officer at Chinese Securities Regulatory Commission, says authorities will provide support to aid tech firms in listing overseas. Photo: RTHK Vice Minister of Science and Technology Qiu Yong says pilot technology finance programmes shall be prioritised in key regions, including the Greater Bay Area. Photo: RTHK People's Bank of China deputy governor Zhu Hexin says that over 100 institutions have issued 'sci-tech innovation bonds' amounting to over 250 billion yuan. Photo: RTHK Mainland authorities said on Thursday the country will provide a more transparent, efficient and predictable regulatory environment, along with funding support, to aid technology firms in listing overseas. This came as China's technology, banking, finance and regulatory authorities rolled out a slate of measures and programmes, as well as credit support for technology firms, to drive domestic innovation. Speaking at a press briefing in Beijing, Yan Bojin, chief risk officer at China Securities Regulatory Commission (CSRC), said 242 enterprises have completed their filings for listings overseas over the past two years since new regulations governing them have been implemented. "Among the firms, 83 are technology enterprises, mainly concentrated in fields such as information technology, biomedicine, new energy and advanced manufacturing," he said. "The CSRC will work with relevant departments to continue supporting eligible technology enterprises to develop in an orderly manner through domestic and overseas capital markets. "We will also provide a more transparent, efficient and predictable regulatory environment to support such technology enterprises to go public overseas." The regulator also noted that the country will further strengthen the security of funds raised by listed companies to ensure their allocation towards the main business rather than other purposes. Vice Minister of Science and Technology Qiu Yong noted that authorities will also continue to deepen reforms in the tech-heavy Nasdaq-style STAR Market in Shanghai, as well as the ChiNext board in Shenzhen, to encourage the so-called red-chip technology firms to return to domestic markets. A "national venture capital guidance fund", which Qiu said will be an investment vehicle with public-private partnership, will be set up to focus on "hard technology". Qiu also stressed that pilot technology finance programmes shall be prioritised in key regions, including Beijing, Shanghai the Greater Bay Area, as well as the innovation centres of Chengdu-Chongqing, Wuhan and Xi'an. "These regions should take the lead in breaking through and solving the key and difficult problems in science and technology finance, especially conducting pioneering trials in the areas of marketisation and rule of law, and exploring innovative policies related to science and technology finance," Qiu said.
RTHK
16-05-2025
- Business
- RTHK
Hang Seng Index slips amid mixed market openings
Hang Seng Index slips amid mixed market openings The Hang Seng Index lost 204 points, or 0.87 percent, to open at 23,249.16 for the day. File photo: RTHK The Hang Seng Index fell 204 points, or 0.87 percent, to open at 23,249.16 on Friday. The retreat came as stocks across the border started lower, with the benchmark Shanghai Composite Index losing 0.18 percent to 3,374.71 in opening trades. The Shenzhen Component Index opened 0.28 percent lower at 10,157.68. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, was down 0.36 percent to open at 2,035.87. The region got off to a good start with Australian shares jumping to an over two-month high, led by gains in banks and miners, ahead of the Reserve Bank of Australia's policy decision next week, when the central bank is widely expected to cut interest rates. The S&P/ASX 200 index rose as much as 1.2 percent to 8,398.2, its highest level since February 20. The index was on track to log its eighth consecutive session of gains. The Nikkei Stock Average opened at 37,748.58, down 6.93 points, or 0.02 percent. The Korea Composite Stock Price Index opened at 2,630.64, up 9.28 points, or 0.35 percent.(Xinhua/Reuters)
RTHK
24-04-2025
- Business
- RTHK
Hang Seng Index edges down in opening trades
Hang Seng Index edges down in opening trades Hong Kong stocks open down marginally on Thursday. File photo: RTHK The Hang Seng Index lost 42 points, or 0.19 percent, to open at 22,030 on Thursday. Mainland stocks opened lower, with the benchmark Shanghai Composite Index down 0.04 percent to open at 3,295. The Shenzhen Component Index opened 0.02 percent lower at 9,933. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, was down 0.15 percent to open at 1,946. The ChiNext Index, together with the Shenzhen Component Index and other indices, reflects the performance of stocks listed on the Shenzhen Stock Exchange. (Xinhua)
BusinessToday
21-04-2025
- Business
- BusinessToday
Chinese Stocks Close Higher Driven By Gold And e-Commerce Sectors
(220704) -- BEIJING, July 4, 2022 (Xinhua) -- A staff member walks past the Shenzhen Stock Exchange in Shenzhen, south China's Guangdong Province, Sept. 21, 2020. (Xinhua/Mao Siqian) Chinese stocks closed higher on Monday, with the benchmark Shanghai Composite Index up 0.45 percent to 3,291.43 points. The Shenzhen Component Index closed 1.27 percent higher at 9,905.53 points. The combined turnover of these two indices stood at about 1.04 trillion yuan (about 144.53 billion U.S. dollars), up from 914.7 billion yuan on the previous trading day. Shares related to the gold and e-commerce sectors were among the biggest winners, while those related to banking and Chinese liquor emerged as the biggest losers. The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, gained 1.59 percent to close at 1,944.32 points. Related
