The Shanghai Stock Exchange aims to tighten supervision over new listings on the tech-heavy STAR Market, as the China Securities Regulatory Commission has asked the bourse to step up scrutiny over IPOs. Photo: VCG

Sponsors for new listings on Shanghai’s tech board will face tough onsite supervision and inspection when regulators question the viability of candidates or the quality of their information disclosure, according to an official notice issued Wednesday.

The notice (link in Chinese), released by the Shanghai Stock Exchange, aims to tighten supervision over new listings on the tech-heavy STAR Market, as the China Securities Regulatory Commission (CSRC) has asked the bourse to step up IPO scrutiny in the wake of fintech giant Ant Group Co. Ltd.’s shocking listing suspension in November.