Start-ups at hi-tech park in Shanghai quicken IPO preparation plans after CSRC reforms to domestic listing rules

Technology start-ups at a major hi-tech park in Shanghai are expected to be some of the leading beneficiaries of China’s reformed initial public offering (IPO) mechanism as they fast track preparations for fundraising, according to an executive from the group that operates the park.

Chen Jun, president of state-owned Shanghai Shibei Gaoxin Group, told reporters in a media briefing on Wednesday that three to four companies based in the Shibei Hi-Tech Park it manages are expected to float shares on the mainland’s stock market each year between 2024 and 2028, compared to just one prospective IPO this year.