China unveils guideline on science and technology innovation board

China's securities watchdog on Wednesday published a guideline on the implementation of science and technology innovation board at the Shanghai Stock Exchange.

The science and technology innovation board will focus on companies in high-tech and strategically emerging sectors such as new generation information technology, advanced equipment, new materials, new energy and biomedicine, the China Securities Regulatory Commission (CSRC) said in a statement.

The move also aims to push for integration of Internet, big data, cloud computing, artificial intelligence and manufacturing sector, according to the statement.

The CSRC vowed to step up oversight on companies listed at the new board and crack down on illegal activities such as fraudulent issuance and false statement.

The Shanghai Stock Exchange will solicit public opinion on detailed rules regarding the new board in the next 20 days.