Firms get nod to list on ChiNext

SHANGHAI: Three Chinese companies have become the first to obtain regulatory approval to publicly list on Shenzhen’s startup board ChiNext, after a recent reform aimed at fast-tracking initial public offerings (IPOs).

China introduced a US-style IPO system to the ChiNext a month ago, as part of efforts to reform the country’s stock markets and channel much-needed capital to innovative start-ups as the world’s second-largest economy recovers from the fallout of the coronavirus pandemic.