BEIJING (Reuters) - China has approved a plan to set up a Nasdaq-style board for tech companies in Shanghai aimed at improving their ability to raise funds, the official Xinhua news agency reported on Wednesday.
President Xi Jinping presided over a meeting of a commission on deepening reforms during which plans for Shanghai's "technology innovation board" were approved, the news agency said.
Xi also said a plan to implement a pilot registration-based initial public offering system for the new exchange had been approved, it said.
Xi first announced a plan for the board in November.
(Reporting by Beijing Monitoring Desk)
