久久久无码人妻精品无码_6080YYY午夜理论片中无码_性无码专区_无码人妻品一区二区三区精99

Economy

Markets

Industries

Insights

Reports

Events

Science park to help tech firms list

By Chen Jialu (China Daily)
Updated: 2007-05-22 08:41

Zhongguancun Science Park (Z-park), China's largest hi-tech incubator, will help 10 to 15 enterprises go public each year for the next five years, with a maximum financial subsidy of 2 million yuan per offering.

"The plan is to boost 100 enterprises to conduct shareholding reforms and 10 to 15 enterprises to go public every year," said Dai Wei, director of Z-park's administrative committee. "We will choose hi-tech companies with strong growth and a capability for innovation."

Known as China's Silicon Valley, the Beijing-based park has established a fund to earmark every company that goes public, gets listed in the over-the-counter (OTC) stock transfer agent system or transforms into a shareholding stock entity with 2 million yuan, 500,000 yuan and 200,000 yuan respectively.

The subsidy will be used for fees related to auditing, legal services, asset evaluation and other services.

Apart from financial support, the administrative committee of Z-Park also set up a service center late last month to provide companies with listing training and consultation, and introduce them to venture capitalists, private equity investors and intermediary service agents.

The committee also joined forces with local government departments to form a coordinating mechanism in propelling the IPO-oriented initiative.

"The applicant hi-tech company's competitive edge, how it will invest the raised capital, and the risk of the proposed project or technology ranked among our top concerns in approving the listing plan," said Yang Wenhui, an official with the China Securities Regulatory Commission.

Since China launched a pilot program last January to enable non-listed hi-tech firms in Z-park to trade shares in the OTC stock transfer agent system, or the "third board" in Shenzhen Stock Exchange, 13 companies in the park have listed in the OTC.

Song Liping, vice-president of Shenzhen Stock Exchange, said the "third board" helps fundraising efforts for small and medium-sized enterprises that are not qualified to go public.