CHINA is set to unveil the first companies eligible to list on its new trading venue for technology stocks.

The Shanghai Stock Exchange met yesterday afternoon to review the listing applications of Shenzhen Chipscreen Biosciences Co., Suzhou TZTEK Technology Co. and Anji Microelectronics Technology (Shanghai) Co. The bourse said it would announce its decisions on the firms in a timely fashion.

“The market is keeping a close eye on the progress of the first batch of listing hearings because it means the tech board is looming and new investment opportunities are emerging,” said Jiang Liangqing, a Beijing-based fund manager at Ruisen Capital Management.

“There’s a good possibility that all three companies get approval, given they have gone through adequate information disclosure and inquiry from the regulator.”

The companies are among 117 that have applied to list on the Science and Technology Innovation Board. The venue is an attempt by the government to expand funding sources for smaller and potentially innovative tech firms. It comes as a trade clash with the United States expands to technology and other areas.

The new Nasdaq-style board is also a testing ground for reforms to the country’s US$6.4 trillion stock market — the world’s second largest. Regulators have waived restrictions on how firms are priced when they list and eased reviews for applicants. And they’ve introduced curbs on retail investors who dominate the broader market and have a reputation for speculative trading.

The securities regulator approved all 11 applications for domestic IPOs last month, the first 100 percent record since at least January 2018. The pattern is likely to continue as authorities want to promote direct financing through the equity market to ease corporate debt and risk, said Yang Hai, an analyst at Kaiyuan Securities Co.

(SD-Agencies)