The Shenzhen Stock Exchange began reviewing IPO applications under ChinNext's registration-based system on July 13. 

This week, the Shenzhen bourse is set to review the first group of 14 applicants, including two enterprises from Ningbo, East China's Zhejiang province.

To date, the bourse has accepted applications from 270 firms looking to go public on the ChiNext board, with 175.695 billion yuan ($25.4 billion) in aggregate capital expected to be raised.

This is seen as a landmark in the ChiNext reform, as it requires the Shenzhen bourse to replace the China Securities Regulatory Commission, the top securities regulator, as the body responsible for accepting and reviewing listing applications.

The accepted IPO applications were primarily from companies engaged in software, information technology, electronic manufacturing, and internet services, which is in line with the nation's resolve to improve capital market functions in order to drive innovation and industrial development.

Applications from Ningbo KBE Electronic Technology Co Ltd and Ningbo Jianan Electronic Co Ltd will also be reviewed soon. 

KBE is a company dedicated to the R&D, production, and sale of automobile cables, while Jianan is an enterprise specializing in R&D and manufacturing smart energy meters and related AMI systems.

From 2017 to 2019, Jianan's business revenue surged from 321.4 million yuan to 494.9 million yuan. 

In addition to these two companies, IPO applications from another seven Ningbo applications have been accepted by the Shenzhen Stock Exchange.