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Tags: APFN | AS | China | Tech Stocks

China Launches STAR, Tech Stock Market to Boost Industry

China Launches STAR, Tech Stock Market to Boost Industry

Saturday, 20 July 2019 09:38 PM

BEIJING (AP) — Trading starts Monday on a Chinese stock market for high-tech companies that play a key role in official development plans that are straining relations with Washington.

Regulators have approved 25 companies in information technology and other fields seen by communist leaders as a path to prosperity and global influence for the Shanghai Stock Exchange's STAR Market.

The market, modeled on the U.S.-based NASDAQ, reflects the ruling Communist Party's desire to channel private capital into its development plans. It gives small Chinese investors a chance to buy into tech industries that have mostly turned to Wall Street to sell shares.

The STAR Market will raise money for industries some American officials see as a competitive threat, though it has no direct link to Beijing's tariff war with President Donald Trump.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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Trading starts Monday on a Chinese stock market for high-tech companies that play a key role in official development plans that are straining relations with Washington.Regulators have approved 25 companies in information technology and other fields seen by communist leaders...
APFN,AS,China,Tech Stocks
131
2019-38-20
Saturday, 20 July 2019 09:38 PM
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