SSE: Firmly Prevent Low-Quality Companies with Weak Tech Innovation and Unclear Market Prospects from Being Listed

Shanghai Securities News, www.cnstock.com (Reporter Qi Doudou) — On March 10, the Shanghai Stock Exchange (SSE) told reporters that it aims to better coordinate the development of investment and financing, strengthen the "gatekeeping" responsibilities of intermediaries, and resolutely prevent low-quality companies with weak technological innovation capabilities and unclear market prospects from being listed in a narrow escape. The SSE strives to ensure that limited listing resources are genuinely directed toward supporting technological innovation.

The SSE emphasized a quality-oriented approach, strictly controlling admission of offering and listing. Moving forward, the SSE will consider the overall layout of the national strategy for technological self-reliance and strength, deepen understanding of "hard technology," and actively leverage the STAR Market to support the development of new quality productive forces. The SSE will also make full use of regular coordination mechanisms with relevant national authorities to accurately identify "hard technology" companies.