China to Start Shanghai NASDAQ-like Exchange for Young Tech Companies

China has given the green light to a new registration-based Shanghai stock exchange aimed at high tech companies that, apparently, will be less regulated than other China exchanges. The new exchange is described as resembling NASDAQ with its dealer-to-dealer pricing mechanism. Presumably, the new exchange will allow pre-profit high-tech China companies to raise capital, taking some of the listings from Hong Kong's new IPO rules for young companies. Hong Kong requires pre-profit biopharmas to have products in late-stage development. So far, China has not specified the requirements for companies seeking to IPO on the new Shanghai exchange. More details....

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