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Shanghai Stock Exchange to Launch New Next Generation IT Tracking Index

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SHANGHAI (Reuters) – The Shanghai Stock Exchange will launch a new index to track 50 large, technology-focused STAR board listed companies that engage in next-generation information technology, the exchange said Thursday, echoing Beijing’s commitment to advancing its tech sector. .

The SSE STAR Next Generation Information Technology index will be listed on the Shanghai Stock Exchange and China Securities Index Co Ltd on August 16, the exchange said in a statement posted on the website.

“The index is to measure the performance of the next generation information technology industry of the STAR market,” he said.

The 50 companies selected would cover a range of areas, such as the internet and cloud computing, big data services and artificial intelligence, the statement said.

China said in its annual activity report released earlier this year that it will increase its annual research and development spending by more than 7% every year over the next five years.

(Reporting by Winni Zhou and Andrew Galbraith; editing by Tomasz Janowski)

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