On September 17, the CSRC issued a notice that, with the approval of the State Council, the announcement on expanding the scope of pilot listing of Red Chip Enterprises in China (hereinafter referred to as the "announcement") is hereby promulgated, which shall enter into force as of the date of the announcement.

The so-called red-chip enterprises refer to those enterprises that are registered abroad and whose main business activities are in China.

In the spring tide of capital market reform in recent years, with the establishment of Science and Technology Innovation Board and the pilot registration system in Science and Technology Innovation Board and gem, the listing and financing of red-chip enterprises in the mainland has finally made substantial progress.

This means that more red-chip companies will be able to list in China in accordance with previous pilot requirements.

The announcement will greatly expand the scope of pilot enterprises, including the Internet, big data, cloud computing, artificial intelligence, software and integrated circuits, high-end equipment manufacturing, biomedical industries, red-chip enterprises belonging to the new generation of information technology, new energy, new materials, new energy vehicles, green environmental protection, aerospace, marine equipment and other high-tech industries and strategic emerging industries. Can be listed on the domestic main board, Science and Technology Innovation Board, gem.

At the same time, red-chip enterprises of great national strategic significance apply for inclusion in the pilot project, which are not subject to the restrictions of the aforementioned industries.

The announcement makes it clear that the application of red chip enterprises to be included in the pilot project shall meet the other conditions stipulated in the notice, such as the measures for the implementation of the supervision of domestic issuance of stocks or depositary receipts and listing of pilot innovative enterprises, and the announcement on the relevant arrangements for the domestic listing of innovative pilot red chip enterprises.

Data show that as of September 2, there have been four red-chip architecture companies listed in Science and Technology Innovation Board. Including Gekewei, Semiconductor Manufacturing International Corporation, Huarunwei and No. 9 company.

In addition, BeiGene, Ltd. and Minshi Group, which have a red-chip structure, are waiting in line for approval from the Securities Regulatory Commission or examination by the exchange.

With regard to the release of the "announcement", some industry experts said: "the release of this announcement further expands the industry pilot scope of domestic listing of red-chip enterprises, and helps to absorb more specialized, special and new, hard-tech enterprises to return." in particular, it is in line with the policy of national strategic significance that is not restricted by the industry, leaving enough room for adaptation between policy and practice. It also fully reflects the welcome attitude of regulation in the return of red-chip enterprises. "