YRD Region Capital Market Service Base launched in Shanghai
Pudong New Area government and Shanghai Stock Exchange sign a cooperation deal on Nov 14 to co-build the Yangtze River Delta Region Capital Market Service Base. [Photo/chinadevelopment.com.cn]
The Yangtze River Delta (YRD) Region Capital Market Service Base was inaugurated on Nov 14 in Zhangjiang Science City, Shanghai's Pudong New Area.
The service base is a result of the joint efforts of the Pudong government and the Shanghai Stock Exchange (SSE).
According to insiders, the service base will explore new working mechanisms for FinTech, startup incubation, venture capital and technological cooperation, and will provide more accurate, convenient and professional services for bond financing, mergers and acquisitions, corporate training, investment education, and the research consulting of enterprises in the YRD region.
The base will also grasp the opportunities brought by a new science and technology innovation board to better fulfill its mission, said Zhang Hong, director of Pudong financial service bureau.
The science and technology innovation board was announced to be built on the SSE during the China International Import Expo taking place in Shanghai from Nov 5 to 10. A new registration system for listed companies will also be trailed.
The Pudong financial service bureau has established a special team to help top local tech companies get listed on the new board more easily, Zhang added.
Wei Gang, general manager of Offering and Listing Center of SSE, said that the combination of the new board and the registration system will bring about new opportunities, and that they are working on promoting the construction of the new board, which is expected to bear fruit in the first half of 2019.
Other officials at the SSE expressed the hope that major forces in the capital market such as investment banks can discover and nurture innovative tech companies to reserve resources for listing on the new tech board so as to help capital market better serve the real economy.
Weng Zuliang, Party secretary of Pudong, and Huang Hongyuan, Party secretary of Shanghai Stock Exchange, unveil the Yangtze River Delta Region Capital Market Service Base on Nov 14. [Photo/chinadevelopment.com.cn]