Twenty-five companies will take part in the Shanghai launch of China’s new venue for trading stocks in technology startups. Investor demand has already outstripped supply by an average of 1,800 times. (Bloomberg)
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Twenty-five companies will take part in the Shanghai launch of China’s new venue for trading stocks in technology startups. Investor demand has already outstripped supply by an average of 1,800 times. (Bloomberg)
Talking point: The launch, first announced by Chinese President Xi Jinping in November 2018, comes amid heightening trade tensions between the U.S. and China. As China wrangles with the possibility of being cut off from parts of the global supply chain, stimulating domestic innovation increases Beijing’s technological self-reliance by funneling investor money into local tech companies, and is part of a larger push by China to increase the self-reliance of its manufacturing and technology sectors. Foreign companies will not be allowed to list on the market. Significant price swings may be on the horizon, as regulators have temporarily waived limits on stock prices and valuations.
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