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paystack sportybet Hong Kong Chief Executive John Lee Ka-chiu announced in his first policy address on Wednesday that Hong Kong Exchanges and Clearing (HKEX) will allow big tech companies that are not yet profitable to raise funds. It is the largest reform of its kind in Hong Kong since 2018. The new rules will apply to five types of specialist technology companies, including next-generation information technology, advanced hardware, new materials, new energy, and new food and agriculture technologies. According to a consultation paper published by HKEX on Wednesday, pre-commercial big tech companies eyeing a listing in HKEX need to have a valuation of at least HK billion (.9 billion), with RD expenses accounting for more than 15% of operating cost. The paper added that the valuation could be as low as HK billion if the companys revenue in the latest fiscal year exceeds HK0 million. The public comment period will end on Dec.18. [HKEX]

paystack sportybet The US Bureau of Industry and Security (BIS) added seven Chinese aerospace electronics and related entities to its Entity List on Wednesday, restricting tech exports to them from US companies. BIS stated that the entities perform activities contrary to US national security and foreign policy interests by utilizing American tech “in support of Chinas military modernization efforts. According to BISs announcement, six out of the seven entities are technically research institutions, at least by name, that focus on aerotechnics, including both hardware and software. An analyst familiar with the field told Caixin that five of the seven entities listed had experience in aerospace semiconductor development, suggesting that the US is aiming to contain Chinas development in this industry. China Aerospace Science and Technology Corporation (CASC) 9th Academy 772 Research Institute, for example, develops over 20 types of chips and 600 models used for airspace and military projects, according to Caixin. The latest addition brings the total number of Chinese entities on the list to 600, with more than 100 added since the start of the Biden administration. [Caixin, in Chinese]