The China Securities Regulatory Commission (CSRC) highlighted the first batch of newly registered companies listing in the Shanghai Stock Exchange’s STAR Market Sci-Tech Innovation Growth Tier, positioning the launch as a further step in the STAR Market’s role as a pilot area for capital market reform and for supporting technology innovation. In remarks delivered at the listing ceremony by CSRC Vice Chair Li Chao, the regulator pointed to policy measures introduced since 2024, including the “Eight Measures for the STAR Market” and the “Six Measures on Mergers and Acquisitions”. The CSRC also described overall progress as smooth for the STAR Market “1+6” reform package implemented in June 2025, including the creation of the Growth Tier and the orderly advancement of pilot mechanisms such as seasoned professional institutional investors and a pre-review process. Looking ahead, the CSRC said it will accelerate work on strategic tasks and major initiatives for the capital markets during the 15th Five-Year Plan period, while maintaining the STAR Market’s “hard technology” orientation, deepening integrated investment and financing reform, improving listed company quality, and strengthening supervision and investor protection.
China Securities Regulatory Commission 2025-10-28
China Securities Regulatory Commission marks first listings in Shanghai STAR Market Sci-Tech Innovation Growth Tier and confirms steady rollout of the STAR Market 1+6 reform
The China Securities Regulatory Commission (CSRC) announced the listing of the first companies in the Shanghai Stock Exchange’s STAR Market Sci-Tech Innovation Growth Tier, marking progress in capital market reform. CSRC Vice Chair Li Chao highlighted policy measures since 2024, including the “Eight Measures for the STAR Market” and the “Six Measures on Mergers and Acquisitions,” as part of the STAR Market “1+6” reform package. The CSRC plans to advance strategic tasks during the 15th Five-Year Plan, focusing on investment reform, company quality, and investor protection.