The launch of the Chinese stock exchange for technology companies is scheduled for July 22 this year. The exchange will work by analogy with the American Nasdaq. The Chinese authorities hope that its launch will contribute to the fact that over time, technology companies will begin to give it preference for an IPO compared to the exchanges of New York and Hong Kong. As the Shanghai Stock Exchange reported, at the first stage, the shares of 25 companies will be traded on the new platform, and the new mode of initial public offerings will be tested. China also intends to use the exchange of technology companies to reform capital markets. As previously reported, more than 100 companies have already applied for an IPO on this exchange.
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