Since July, a number of tech firms from Beijing's Zhongguancun have started trading on Shanghai's Nasdaq-style sci-tech innovation board, also known as the STAR Market. Many of those listed chipmakers and medical firms have performed remarkably in their first month of trading.

Since the STAR Market was inaugurated last year, 150 companies have been listed on the new board, of which 28 are from Beijing, accounting for about 19% of the total.

Cambricon Technologies, a Beijing-based startup specializing in artificial intelligence chips, took only 89 days to obtain approval for its IPO from Chinese regulators. The time it took for IPO was second only to another chip giant, Semiconductor Manufacturing International Corp.

These sci-tech companies listed on the STAR Market showed robust momentum after their debut. With strong funding support, their market values have surged quickly.

Many companies on the STAR Market have shown a firm commitment to promoting innovation. The Beijing-based TINAVI Medical Technologies has played a global leading role in developing orthopedic robotic system, with the average investment in research and development accounting for over 30% of its revenue in the past three years. By the end of 2019, its medical robot products had been used in 74 hospitals in China, performing over 5,000 operations.

"The great ambition is spurring us on. We just started on the long journey," said Cambricon founder and CEO Chen Tianshi, adding that the listing on the STAR Market marked the new starting point for the company's innovation and development and for it to become a world-class chipmaker.

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