MNI BRIEF: China To Increase Tech Listing Support - CSRC Head

China will further deepen reform of its Science and Technology Innovation Board to support the financing of tech companies better, according to Wu Qing, chairman of China Securities Regulatory Commission.

Speaking at the Lujiazui Forum in Shanghai on Wednesday, Wu said authorities will reactivate the fifth set of listing standards aimed at tech firms that are not profitable but have high growth potential.

Other reform measures include introduction of a system of senior professional institutional investors and a pilot IPO pre-review mechanism facing high-quality tech firms, said Wu. 

Authorities will also promote bond issuance aimed at tech financing, accelerate the launch of related ETFs, and actively develop equity-bond combination products such as exchangeable bonds and convertible bonds. (See MNI INTERVIEW: PBOC To Spur Tech Firm Bond Issuance)