FINANCE

China Updates ChiNext Listing Criteria to Court High-Growth Tech Firms

Published: Apr. 10, 2026 9:26 p.m. GMT+8

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Shenzhen Stock Exchange. Photo: VCG

China’s securities regulator unveiled new listing criteria for the Shenzhen Stock Exchange’s tech-heavy ChiNext board on Friday and launched a pilot program allowing local governments to recommend initial public offering candidates.

The China Securities Regulatory Commission said the changes are designed to refine listing standards and draw higher-quality companies in emerging and future-oriented industries.

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CSRC unveiled new ChiNext listing criteria, adding fourth standard: emerging track (≥3B yuan mkt cap, 200M yuan revenue, 30% 3-yr CAGR); future track (≥4B yuan valuation, same revenue, ≥100M yuan R&D ≥15% revenue).
Unprofitable listings get “U” marker; insiders barred from selling pre-IPO shares for 3 years.
Pilot lets local govs recommend IPOs; ChiNext has 1,396 firms, 18.9T yuan mkt cap.

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