Wu Qing: Implement pre-approval review for eligible GEM companies applying for an IPO

On March 6th, Wu Qing, Chairman of the China Securities Regulatory Commission, stated at the press conference on the economic theme of the Fourth Session of the 14th National People’s Congress that in the reform of the ChiNext Board, the beneficial experience from the STAR Market reform will be replicated and promoted to the ChiNext Board. The focus is: launching IPO pre-review for qualifying high-quality innovative companies on the ChiNext Board, especially those with breakthroughs in key core technologies, allowing eligible companies under review to increase capital and expand shares facing old shareholders, and optimizing the pricing of new share issuance. (First Financial)