Yi Huiman, chairman of China Securities Regulatory Commission (CSRC), called upon local investment banks and investors to “enhance their capabilities and be prepared” for the new Shanghai technology board, which will soon receive the first batch of IPO applications.

“The new tech board will test the core competence of investment banks as it is much different, in terms of pricing and underwriting, from (China’s) existing boards,” Yi said on Wednesday afternoon in a press conference held by the State Council in Beijing.

The most “crucial factor” for the success of the new technology bourse, said Yi, was for local investment agencies must be fully prepared, citing the “the lack of experience” among domestic brokers.

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Jill Shen

Jill Shen is Shanghai-based technology reporter. She covers Chinese mobility, autonomous vehicles, and electric cars. Connect with her via e-mail: jill.shen@technode.com or Twitter: @yushan_shen