A Rising STAR

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? Th

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