On October 28, 2025, during the listing ceremony for the inaugural batch of newly - registered enterprises on the Science and Technology Growth Tier of the Science and Technology Innovation Board (also known as the STAR Market), Qiu Yong, the Chairman of the Shanghai Stock Exchange (SSE), made a significant statement. He said that the SSE is set to further harness the STAR Market's function as a 'proving ground'. This will involve implementing stringent controls over enterprise admission. By doing so, the SSE aims to more effectively identify high - caliber science and technology innovation enterprises. In addition, the SSE will actively promote the application of the fifth listing criterion in cutting - edge technology sectors, including artificial intelligence, commercial spaceflight, and the low - altitude economy. Ultimately, the goal is to provide robust support for hard - tech enterprises that possess the potential to compete on a global scale, enabling them to go public.