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China to create stock venue in Shanghai for high-tech companies

Nov 6, 2018 by The Passage Team
China to create stock venue in Shanghai for high-tech companies

China will establish a new trading venue in Shanghai that will make it easier for high-tech companies to access funding, as President Xi Jinping vows more opening measures to boost the world’s second-largest economy.

The Shanghai Stock Exchange will also start a pilot project for a registration-based IPO system, Xi said at the opening ceremony of the China International Import Expo on Monday. No further elaboration regarding the initiatives released.

The China Securities Regulatory Commission will move ahead with a trial for the high-tech-focused venue at a measured pace, and will encourage smaller investors to participate via mutual funds, says a statement from the regulator after Xi’s speech.

Source: Bloomberg

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