China to Launch Nasdaq-Style Board in Shanghai

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.