The science and technology board is here!Shanghai Stock Exchange releases science and technology board stocks to do the implementation rules for the market trading business

On the evening of July 15th, the Shanghai Stock Exchange formulated the "Implementation Rules for the Implementation of the Shanghai Stock Exchange Science and Technology Innovation Board Stocks to Do the Municipal Transaction Business" (hereinafter referred to as the "Implementation Rules"), which was implemented from the date of release.

The "Implementation Detailed Rules" proposes that through the shares held by municipal merchants, it is included in the consolidation of the number of shares held by the securities company in accordance with the shares held by special accounts and reference to the stock of the same listed company. The shares of listed companies held by the marketing merchants through special accounts should not exceed 5%of the shares issued by the listed company.

According to the Shanghai Stock Exchange, according to the "Regulations on the Pilot of the City Trading Business of Securities Company's Science and Technology Innovation Board" issued by the Securities and Innovation boards issued by the Securities Company in May 2022, the Shanghai Stock Exchange formulated the "Implementation Rules" and supporting business guidelines and publicly solicited opinions from the market. From the perspective of market feedback, market institutions actively support the launch of the science and technology board for the launch of the marketing mechanism. Generally, the relevant arrangements in the "Implementation Rules" and the supporting business guidelines have also put forward valuable opinions and suggestions on specific business details.

After careful research and full survey, the Shanghai Stock Exchange's reasonable and fertile opinions and suggestions on market feedback were absorbed and adopted. The revised "Implementation Rules" has 5 chapters and 28 articles, and the main contents include three points.

The first is to clarify the application and termination of the city service. Science and Technology Board Stock Application Application adopts a filing system, and securities companies that have obtained listed securities as a market trading business can provide a market service for specific science and technology board stocks.

The second is to clarify the rights and obligations of municipal businessmen. Municipal merchants should meet the relevant requirements of the Shanghai Stock Exchange on the Shanghai Stock Exchange. The Shanghai Stock Exchange regularly evaluates the city merchants and gives measures such as actively performing obligations to provide appropriate reduction in transaction costs.

The third is to clarify the supervision and management of city merchants. Municipal merchants should improve risk management and internal control systems, establish risk prevention and business isolation mechanisms, and ensure that compliance and orderly development of the city trading business.

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