China to create "green channel" for high-tech SMEs to get listed

China will create a "green channel" for over 700 well performing high-tech small- and medium-sized enterprises (SMEs) to get listed, said a senior official here Thursday.

Ma Songde, vice minister of Science and Technology, made the remarks at a seminar on SMEs development.

China has 50,000 high-tech SMEs, among which 722 have met the listing requirement in terms of capital scale and profitability, said Ma.

These companies have made profits for two consecutive years and their net assets and overall income both exceeded 30 million yuan (3.7 million US dollars) last year, he said.

When the "green channel" is established, China will shorten or even cancel the one-year assistance period before they get listed, said Ma.

Another measure includes loosening the restrictions on the suggested total listing number in order to speed up the work, he said.

The issuance and listing of company stocks could also be divided in an appropriate manner, said Ma.

Source: Xinhua