Technology companies now make up a larger share of China's A-share market as the country steps up capital market support for sci-tech innovation, an official said Monday.

Technology companies account for more than a quarter of the A-share market capitalization, which is significantly higher than the combined market cap of the banking, non-bank financial, and real estate sectors, said Wu Qing, chairman of the China Securities Regulatory Commission, who made the remarks at a press conference themed on the country's achievements during the 14th Five-Year Plan period (2021-2025).

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In recent years, more than 90 percent of newly listed companies have been technology companies or those with a high level of technological expertise, he said.

Among the top 50 companies by market cap, the number of technology companies has increased to 24 from 18 at the end of the 13th Five-Year Plan period (2016-2020), Wu said.