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New star rises in Shanghai

Economy

The highly anticipated launch of the Shanghai Stock Exchange's tech-focused STAR Market last week heralds essential reform of China's capital market as the country undergoes an economic transformation driven by scientific and technological innovation.

China DailyUpdated: June 20, 2019

Timeline

・ Nov. 5 – President Xi Jinping announces plans to launch the STAR Market at the Shanghai Stock Exchange and pilot a registration-based IPO system

・ Jan. 23 – Overall implementation plan for STAR Market and registration-based IPO system approved

・ Jan. 30 – China Securities Regulatory Commission solicits public opinion on supervision rules and IPO rules for STAR Market

・ Jan. 30 – SSE solicits public opinion on rules for the STAR Market and registration-based IPO system

・ March 1 – Supervisory rules and IPO rules for STAR Market approved

・ March 4 – SSE releases trading rules for STAR Market and registration-based IPO system

・ March 13 – STAR Market stages first systematic test run

・ March 18 – SSE launches IPO application review system for STAR Market

・ March 26 – First nine companies submit the necessary application documents

・ April 13 – First listing committee for STAR Market formed

・ April 22 – First seven mutual funds win approval to invest in STAR Market

・ June 5 – First three companies pass SSE review

・ June 11 – First three companies enter registration process

・ June 13 – Launch of STAR Market

・ June 14 – First two companies complete IPO registration

・ June 15 – Launch of STAR Market trading system

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