A report by the China Securities Journal found that the candidates for listing on the new Chinese board for scientific and technological innovation essentially come from the global market and have a strong competence
The future Chinese board for scientific and technological innovation will certainly be characterized by particular attention to the market and will be composed of highly qualified people. Is the result of a report by the China Securities Journal which analyzed candidates for listing on the new board and noted that most of them come from the global market and have a strong competence.
In particular, the new board will be launched on the Shanghai Stock Exchange (SSE), where requests for an initial public offering (IPO) were managed on the scientific committee of 95 companies.
Of the applicants, around 51 have established 201 foreign branches
Statistics show that the applicants ‘201 foreign branches’ activities amounted to over 30 billion yuan (about 4.45 billion US dollars), with a net profit of over 1.5 billion yuan in 2018.
These companies, particularly those in the fields of biomedicine, semiconductor chips and the Internet, post a strong presence in the global market, supplying products and services to foreign customers.
New generation information technology (IT) and biomedicine companies represent the majority of candidates
At the newspaper a representative of biomedicine said: “We export our products while requiring advanced experience from overseas, so we must exploit resources and markets both at home and abroad”
“The active presence of these candidates in the foreign market is in line with the current phase of technological innovation in China” the representative said, citing a report by Sealand Securities.
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