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novative companie▓s. China's securities regulator released new guidelines on Tuesday. The regulations state that companies seeking a listing on the new Nasdaq-like second board should have net assets o

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least 20 million yuan. They also note that companies applying for a listing be open for business for more than three year

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s. The Chin▓a Securities Regulatory Commission also requires that the issuer ▓has remained profitable in the two most recent consecuti

ve years prior to its application. Th▓e prospective issuer must also have combined profits of at least 10 million yuan. Or report profits of at least 5 million yuan

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for the most recent year on▓ revenues of at least 50 million yuan. The company must als▓o have an annual revenue growth of at least 30 percent in the re▓cent two years. The guidelines are set to go into effect on May 1s

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