Caixin
Nov 06, 2018 05:44 AM
FINANCE

China to Launch Nasdaq-Style Board in Shanghai

A trader sits in front of a computer at his work station at the Shanghai Stock Exchange.Photo: VCG
A trader sits in front of a computer at his work station at the Shanghai Stock Exchange.Photo: VCG

China will launch a high-tech stock board in Shanghai and experiment with a registration-based initial public offering system, Chinese President Xi Jinping said Monday at the opening of the China International Import Expo in Shanghai.

The announcement of the “technology innovation board,” to be established by the Shanghai Stock Exchange, is seen as a move by the government to boost business confidence amid slowing economic growth and mounting U.S. tariffs. The new trading venue could be modeled on the wildly successful Nasdaq Stock Market in the U.S., whose listings include Amazon, Apple, and Microsoft.

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