China to launch tech-driven STAR Marketplace on Monday

The first batch of qualified market makers on STAR will begin trading next week, which will reduce transaction costs for investors and improve pricing efficiency, the exchange said in a statement on its website.

Home to some of China’s biggest chipmakers, biotech companies and high-end manufacturers, STAR Market is on a mission to fund Beijing’s technological innovation amid growing Sino-US rivalry.

The Shanghai Stock Exchange said it will continue to improve market mechanisms to help China achieve independence and self-sufficiency in technology.

Regulators have approved 14 brokerage firms as the first batch of market makers, which actively quote stocks, bringing liquidity and depth to the market.

Among them are Industrial Securities, Guotai Junan Securities and Sinolink Securities.

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