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fishingfrenzymegaways|China unveils new measures to deepen reform of STAR market

BEIJINGfishingfrenzymegaways, June 19 (Xinhua) -- China's top securities regulator on Wednesday rolled out new measures to deepen the reform of the Science and Technology Innovation Board (STAR) market to better serve sci-tech innovation and promote the development of new quality productive forces.

The measures include further supporting the listing of enterprises making breakthroughs in new industries, new business patterns and new technologies, and improving the pricing mechanisms for initial public offerings (IPOs), according to the China Securities Regulatory Commission (CSRC).

fishingfrenzymegaways|China unveils new measures to deepen reform of STAR market

Efforts will also be made to improve the financing of listed companies on the STAR board, optimize the trading mechanisms, strengthen monitoring, forestal market risks, as well as encourage merger, acquisition and restructuring, the CSRC said.

Since its launch in 2019, the STAR market has become the preferred listing destination for "hard-tech" companies, with its magnetic appeal continuing to grow.

As of May 31, a total of 572 companies have been listed on the STAR market, with a combined market capitalization of 5.17 trillion yuan (about 726.5 billion U.S. dollars). The total amount raised through IPOs has reached 909.1 billion yuan.

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