Key facts
- Unprofitable artificial intelligence startups will be allowed to list on China's STAR Market.
- The CSRC is also accelerating a pilot program for yuan foreign-exchange futures.
- These initiatives are part of Beijing's strategy to support its domestic tech sector and attract foreign investment.
- The announcements were made by CSRC Chairman Wu Qing at the Lujiazui Forum in Shanghai.
China's top securities regulator, the China Securities Regulatory Commission (CSRC), has announced measures to support its domestic technology sector. CSRC Chairman Wu Qing stated that unprofitable artificial intelligence startups will be permitted to list on the country's tech-heavy STAR Market. This move is intended to channel capital into strategic industries and bolster the domestic tech sector amidst increasing global competition.
In addition to opening up the STAR Market, the CSRC will accelerate a pilot program for yuan foreign-exchange futures. These initiatives underscore Beijing's ongoing efforts to strengthen its technological capabilities while simultaneously introducing new financial derivatives to attract foreign investors to its onshore markets.