The mainland is moving closer to launching high technology boards at its two securities markets in Shanghai and Shenzhen, according to newspaper reports.
Quoting sources close to top securities regulators, the China Daily said the two boards were expected to be launched on June 1.
The newspaper also quoted an official with the office responsible for selecting qualified firms for second board listings as saying more than 70 hi-tech companies had already received China Securities Regulatory Commission approval to list on the new market.
Fan Yongjin, president of the Leading Office of Asset Restructuring for Shanghai Listed Companies, said the number of new companies joining the market 'could be extended to 200 to 300 during the first stage of the boards'.
The move to open second markets at the two stock exchanges is part of the mainland's latest push to foster domestic hi-tech enterprises.
Government officials are also moving with unprecedented speed to keep the country's hi-tech firms from listing offshore to tap the wave of speculative capital now washing through international markets.
