The Shanghai Stock Exchange’s year-old STAR Market has outperformed similar markets and is set to host one of the biggest-ever IPOs. We introduce you to the new exchange and its companies.
Share prices are displayed during the listing ceremony of the first batch of companies on the STAR Market in Shanghai, China, July 22, 2019. Credit: Imaginechina via AP Images
Ant Group, China’s financial technology behemoth and the world’s most valuable private company, this week filed for a dual listing in Shanghai and Hong Kong. The move represents a coup for the mainland’s stock markets. The IPO, which will take place on the Hong Kong Stock Exchange and a new Shanghai Stock Exchange board called the STAR Market, could raise as much as $30 billion and value Ant at more than $200 billion.
What is the STAR Market, and what explains its rapid growth? This week, we introduce you to the new exchange and its companies.
What is the STAR Market?
The Shanghai Stock Exchange’s Sci-Tech Innovation Board, or STAR Market for short, was established in July 2019.
The Chinese government established the board partly to provide a domestic venue similar to Nasdaq in the U.S, for China’s high-tech companies to raise capital.
*main board
Data: Dealogic
STAR Market’s looser rules compared to those of other mainland Chinese exch
Exclusive longform investigative journalism, Q&As, news and analysis, and data on Chinese business elites and corporations. We publish China scoops you won't find anywhere else.
A weekly curated reading list on China from David Barboza, Pulitzer Prize-winning former Shanghai correspondent for The New York Times.
A daily roundup of China finance, business and economics headlines.
We offer discounts for groups, institutions and students. Go to our Subscriptions page for details.
Quantum technologies have long sounded like they belong in the realm of science fiction. But in recent years, China, led by the brilliant physicist Pan Jianwei, has made huge quantum strides. Now, recent U.S. sanctions targeting Chinese quantum companies underscore the reality that these technologies are no longer theoretical.
