China’s 'Nasdaq': expect a rocky start

China Shanghai sunset 230px
By Jonathan Breen
05 Mar 2019

China has set the official rules for its Nasdaq-style tech board. It is undoubtedly a step forward for China’s equity capital market, but it should not be a surprise if a bubble forms soon after it launches.

The Science and Technology Innovation Board, part of the Shanghai Stock Exchange, will have various features new to the mainland market. For one, the China Securities Regulatory Commission is taking a step back by testing a registration-based IPO application system, which gives issuers control over when or if ...

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