Shanghai stock exchange to monitor performance of listed high-technology

The Shanghai stock exchange is to set up a sub-index to monitor the performance of listed high-technology companies in its effort to promote the sector.

Exchange deputy president Wu Yalun said hi-tech qualification would be based on criteria submitted to the China Securities Regulatory Commission.

He said setting up the index for high-tech companies was just the first step and eventually he would like to see it develop into a full mainland-style second board for start-up companies.

Shenzhen, a leader in high-technology industries, has been promoting the idea of a Nasdaq-style board for mainland start-up companies.