After the GEM implements the registration system, there are certain similarities and differences between the rules of the GEM and the Science and Technology Innovation Board. The similarities are as follows: 1. For the stocks listed on the GEM for the first time, there will be no registration fee in the first five trading days after listing.

The price limit is 20% after 5 days.

2. After the registration system, the GEM also adopts after-hours pricing transactions. After-hours pricing transactions are from 15:05 to 15:30 on each trading day. The after-hours pricing transaction declaration time is from 9:15 to 11:30 and 13 on the trading day.

: 00 to 15:30. If trading is suspended during the opening period, you can continue to make declarations during the suspension period. If trading is still suspended at 15:00 on the same day, after-hours pricing transactions cannot be performed. After-hours pricing declarations are valid on that day.

Differences: 1. New investors on the Science and Technology Innovation Board need to have average daily assets of more than 500,000 in the first 20 trading days and 2 years of stock trading experience to open, while new investors on the GEM after the registration system need to meet the first 20 transactions

The average daily assets are more than 100,000, and you need 2 years of stock trading experience to open it.