The operation of science and technology innovation board has made new regulations on the financial management of investors in the securities market, including market price declaration, price limit, declaration type and science and technology innovation board market price protection limit. Then, what are the specific contents of the operating rules of the science and technology innovation board?

The operating rules of the Science and Technology Innovation Committee are as follows:

1 Focus on designing a more reasonable reduction system, maintaining the stability of control rights and technical teams, limiting the reduction of unprofitable companies, optimizing the reduction methods, providing more flexible reduction methods for venture capital funds and other shareholders, and strengthening the disclosure of reduction information.

It is required that the merger and reorganization of science and technology innovation board companies should focus on the main business, the underlying assets should have a synergistic effect with the main business of listed companies, and speculation through mergers and acquisitions should be strictly restricted.

Individual investors are required to participate in science and technology innovation board stock trading, and the assets in the securities account and capital account are not less than RMB 500,000, and they have participated in securities trading for 24 months. Investors who do not meet the requirements of appropriateness can participate in science and technology innovation board by purchasing publicly issued funds.

4. Relax the price limit of the science and technology innovation board stock to 20%, and there will be no price limit in the first five trading days after IPO.

5 science and technology innovation board stocks can be used as the target of securities lending from the first trading day after listing, and the selection criteria of the target securities will be different from those of A shares on the main board.

6. It is no longer required that the number of single declaration is 100 shares and its integral multiple. For market orders and limit orders, it is stipulated that the number of single declaration is not less than 200 shares, which can be increased by 1 share; The maximum number of single declaration for market orders is 50,000 shares, and the maximum number of single declaration for limit orders is 6,543,800 shares.

7 Shanghai Stock Exchange, relax the implementation conditions of strategic placement of science and technology innovation board, and allow issuers with initial public offering of more than 654.38 billion shares to make strategic placement.

Science and technology innovation board introduced after-hours fixed-price trading, which refers to the trading mode in which investors buy and sell stocks at closing price through closing price commission after bidding.

Generally speaking, the China Securities Regulatory Commission and the Shanghai Stock Exchange intensively issued a number of policies and rules for science and technology innovation board on the evening of 654381October 30, which mainly stipulated the follow-up investment, price limit, issuance pricing, delisting and credit approval system of science and technology innovation board securities firms. There is no breakthrough in the T+0 trading system and the threshold of 500,000 investors that the market paid attention to before.