News Formal

China launches STAR, tech stock market to boost industry

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 99%

Business News News

Business Business Latest News,Business Business Headlines

Trading starts Monday on a Chinese stock market for high-tech companies that play a key role in official development plans that are straining relations with Washington.

Regulators have approved 25 companies in information technology and other fields seen by communist leaders as a path to prosperity and global influence for the Shanghai Stock Exchange's STAR Market.

"The new board's important role is to provide a fundraising channel for China's scientific and technologic innovation," said economist Lu Zhengwei at Industrial Bank in Shanghai. The STAR Market has more lenient standards for profitability and price volatility than the main exchanges. The Shenzhen Stock Exchange launched its own second board, dubbed ChiNext, in 2009 for small, faster-growing companies.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Expect craziness’ as China readies debut of Nasdaq-style STAR MarketFirst batch of 25 Chinese technology companies – ranging from chip-makers to biotech firms – will debut on the STAR Market
Source: globeandmail - 🏆 5. / 92 Read more »