A strict disclosure system should be set up on top of various preparations for a growth enterprises market£¨GEM£© to be launched in China, said Xu Guanhua, Minister of Science and Technology, at a press conference called by the Information Office of State Council earlier,according to today's People's Daily.

The said system shall be supported by a regulated management structure of corporation, according to Xu. Thus, the high-tech enterprises still have a long way to go regarding having independent directors engaged in management and set up a Salary and Audit Committee facilitating information release.