There is still no specific timeline when the new trading board for technology and innovation will be set up on the Shanghai Stock Exchange, The Paper reported, citing an  insider.

“Eligible and mature enterprises should be well-prepared, the faster the better,” the insider said.

The new trading board will not take companies which were rejected by the mainboard, such as high-pollution and high-risk industries, the insider said. Instead, the new board will have different standards for shareholder structure and profit scale.

The proportion of scientific and technological innovation as well as R&D investment will definitely be assessed, but they will not be the only indicators, the insider said.

It was reported that in January next year, Shanghai will release the implementation methods and detailed rules for the technology and innovation board, and enterprises will be able to submit IPO applications in March or April.