Premium Blue-chip Market Where New Economy Rises

  • In 2017, SSE launched the "New Blue-chip" corporate listing service, to welcome more companies from emerging industries.

  • In June 2018, SSE published pilot rules on listing, trading and regulation of stocks or DRs of Innovative Enterprises. So far the SSE has formed a comprehensive listing service plan for BATJ-like and Unicorn companies.

  • On November 5, 2018, during the China International Import Expo, President XI Jinping announced the introduction of the Sci-Tech Innovation board and the pilot registration system in the SSE.

  • On June 13, The SSE STAR Market was officially launched during the Lujiazui Forum.

  • On July 22, 2019, the first batch of 25 companies were listed on the SSE STAR Market.
     

Highlights of the SSE STAR Market compared to existing markets

For more information on the SSE STAR Market, please visit:http://star.sse.com.cn/en/

Key Features Sci-Tech Innovation Board (SSE) Main Board/SME Board ChiNext Board (SZSE)
Listing Mechanism
  • Registration-based
  • Approval-based
  • Approval-based
Eligible Investor
  • Financial assets no less than RMB 500,000

  • Investment experience no less than 24 months
  • Meet general conditions
  • Investment experience no less than 24 months, or

  • Sign relevant risk acknowledgement letter
Listing Requirements
  • Focus on enterprises that are in line with national strategies,
    possess key technologies and have outstanding scientific
    and technological innovation capabilities

  • Emphasize market value and revenue instead of net
    income requirements

  • 5 different sets of financial requirements for
    different level of valuation
  • Requirements on net asset, cash flow,
    revenue, and net income
  • Requirements on net asset, revenue, and net income
Price Limit
  • ±20%

  • No limit for the first 5 trading days
  • ±10%

  • ±5% for ST and *ST stocks

  • -36% ~ +44% for the first trading day
  • ±10%

  • ±5% for ST and *ST stocks

  • -36% ~ +44% for the first trading day
Trading Mechanism
  • Continuous auction

  • Call auction

  • Block trade

  • After close fixed-price trading
  • Continuous auction

  • Call auction

  • Block trade
  • Continuous auction
  • Call auction
  • Block trade
Others
  • Allow companies with dual-class share structure
    to list
  • Allow Red-chip companies to list through stocks
    or depository receipts