(Image: REUTERS/Florence Lo)
Chinese actions related to artificial intelligence (AI) advanced broadly this Thursday (18) after the country’s main capital market regulator stated that it will implement reforms to support a greater number of initial public offerings (IPOsits acronym in English) from AI companies.
In Shanghaithe roles of Moore Threads closed up 4.69%, those of MetaX advanced 5.10% and those of Cambricon Technology rose 14.2% this Thursday. The index ChiNextoften compared to the Nasdaq for bringing together fast-growing companies, rose 2.05%.
The chairman of the China Securities Regulatory Commission (CSRC), Wu Qing, stated during the Lujiazui Forum, in Shanghai, on Wednesday (17), that the reforms will focus on STAR Market (Science and Technology Innovation Board), aimed at technology companies in Shanghai, and ChiNext, in Shenzhen.
According to Wu, the regulator intends to relax listing rules for developers of large language models (LLMs) of AI and support more “hard-tech” companies, including companies in the quantum computing, biomanufacturing and embodied intelligence sectors, to go public on the STAR Market.
Companies in the new consumption and modern services sectors listed on ChiNext will also receive greater support, added the director. Wu also encouraged eligible companies traded in Hong Kong to dual-list on the Chinese market.
The measures are part of Beijing’s effort to increase technological self-sufficiency and boost economic growth through the so-called “new productive forces”, a concept that encompasses innovations developed in the country in areas such as advanced manufacturing, AI and biotechnology.
*Content translated with the help of Artificial Intelligence, reviewed and edited by the Broadcast editorial team, Grupo Estado’s real-time news system.
Source: www.moneytimes.com.br
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