China Expand the Pilot Scope of Red-chip Enterprises for Domestic Listing

On September 17, 2021, the China Securities Regulatory Commission (“CSRC”) issued the "Announcement on Expanding the Pilot Scope of Red-chip Enterprises for Domestic Listing" to further enhance the inclusiveness of the capital market, support high-quality red-chip enterprises to issue securities on the domestic capital market.

In addition to Internet, big data, cloud computing, artificial intelligence, software and integrated circuits, high-end equipment manufacturing, and biomedicine industries as specified in the "Notice", the Pilot Scope now also includes the following sectors:  new generation of information technology, new energy, new materials, new energy vehicles, and green red-chip enterprises in high-tech industries and strategic emerging industries such as environmental protection, aerospace, and marine equipment. Moreover, red-chip enterprises with national strategic significance can also apply to be included in the pilot program without being subject to the aforementioned industry restrictions.