China's burgeoning high-tech firms will find it easier to get listed on stock exchanges and raise necessary funds with the amendment of the country's Corporate Law to support their development.

The Standing Committee of the National People's Congress (NPC), China's national legislature on December 25 passed a decision on amending the Corporate Law to soften the terms for the fund-thirsty high- tech firms to go public.

The State Council, the country's top governing body, will shortly publish detailed rules for the listing of them, according to sources with the 13th session of the 9th NPC Standing Committee, which closed here today.

Lawmakers believe the move will help boost the development of China's high-tech sector, a key player in a knowledge-based economy, but warned that appropriate measures should be taken to do a good job of it due the lack of experience.

The amendment also asks for the establishment of supervisory boards to oversee solely state-owned enterprises. The board might be composed of the State Council accredited personnel and representatives of enterprise employees, who are entitled to attend directorate meetings.

Directors, managers and financial managers of the enterprises are not allowed to be members of the supervisory boards concurrently, according to the amendment.