Home Latest Stories Under Xi Jinping, China's Newest Stock Exchange In Beijing Eyes Domestic Listings

Under Xi Jinping, China’s Newest Stock Exchange In Beijing Eyes Domestic Listings


Under Xi, China's Newest Stock Exchange In Beijing Eyes Domestic Listings

The nation currently has two main exchanges in Shanghai and Shenzhen. (File)

Beijing:

China will set up a new stock exchange in the capital Beijing, President Xi Jinping said Thursday, as the country tries to lure domestic companies into listing at home instead of overseas.

The nation currently has two main exchanges in Shanghai and Shenzhen.

Xi said in a speech at a trade fair that the new stock exchange would support the development of small and medium-sized enterprises, but did not offer further details.

“We will continue to support the innovative development of small and medium-sized enterprises… (by) establishing the Beijing Stock Exchange,” he said.

The announcement comes as authorities tighten rules in several key sectors in China from entertainment to tech.

On Thursday Beijing banned TV talent contests and earlier this week introduced harsh restrictions on the time children are allowed to play video games.

China has launched a tech crackdown that has hit large firms including e-commerce behemoth Alibaba and ride-hailing giant Didi Chuxing.

The exchanges in Shanghai and Shenzhen are both subject to a 10 percent band to contain volatility.

But in 2019 the Shanghai Stock Exchange launched a more flexible Nasdaq-style STAR board focused on science and technology listings.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



Source link

RELATED ARTICLES

Maharashtra BJP Leader Kirit Somaiya Says He Will Move Court Against Maharashtra Government

<!-- -->Kirit Somaiya was detained at Karad Railway Station in Satara district of Maharashtra on Monday. (File)Satara, Maharashtra: Bharatiya Janata Party (BJP) leader...

As India Clocks Record Vaccination, Maharashtra Pushes For Jabs For Women

<!-- -->Mumbai: As India clocked over 2.50 crore vaccine doses on Friday, Maharashtra had a moment to celebrate of its own. The state...

Opposition Should Introspect “Irresponsible” Remarks About Covid-19 Vaccination Drive: BJP’s JP Nadda

<!-- -->The vaccination programme has proved to be the "biggest and fastest" in the world, JP Nadda said. (File)NewDelhi: The Opposition parties should...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular

Vice President Venakaiah Naidu Says Farmers’ Problems Should Not Be Linked To Politics

<!-- -->Vice President M Venkaiah Naidu said it is absolutely important to modernise agriculture. (File)Gurugram: Vice President M Venkaiah Naidu on Sunday said...

Amazon India Now Lets Customers Shop in Bengali, Marathi; Announces Hindi Voice Shopping Experience

Amazon on Monday announced Bengali and Marathi as two new Indian languages for shopping on its e-commerce site. With the new update, Amazon...

Russia Opposition Claims Mass Fraud After Vladimir Putin’s Party Sweeps Vote

<!-- -->Russian President Vladimir Putin's party claimed two-thirds majority in the lower house. (File)Moscow: Russia's opposition accused the authorities of mass voter fraud...

Malaika Arora enters the week with balancing Vrikshasana, here’s how to do it correctly | Health

Malaika Arora took to Instagram to share a picture of herself doing the Vrikshasana or the Tree Pose. She also shared steps to...

Recent Comments