China Weighs Tighter Rules on STAR Board IPOs, Fintech Curbs
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China is considering tighter rules for first-time share sales on Shanghai’s Nasdaq-style STAR board that will require firms to prove their technology credentials and raise the bar for companies such as Ant Group Co.
The China Securities Regulatory Commission may introduce revised rules as soon as next month, placing greater emphasis on hardcore technology and innovation, said people familiar with the matter, who asked not to be identified as the discussions are private. There will also be increased scrutiny on financial health to boost the quality of companies and protect investors, they said.