国内英语资讯:China Focus: STAR market expected to nurture leading global tech firms_时事

国内英语资讯:China Focus: STAR market expected to nurture leading global tech firms

According to Mandy Zhu, head of China global banking of UBS, the multiple listing criteria of the STAR market are more flexible and provide diversified paths for loss-making companies and companies with dual-class share structures to enter the market.

Qi An Xin Technology Group Inc., a Chinese network-security service firm listed on the STAR market on Wednesday, is one of the beneficiaries.

"The STAR market has changed the listing criteria from sustainable profitability to sustainable operating ability, which allows companies with core technologies and a long cash-conversion cycle like us to successfully go public and further expand with the strength of the capital market," said Qi Xiangdong, chairman and CEO of Qi An Xin.

More and more enterprises see a promising future in the STAR market and are choosing dual listing in Shanghai and Hong Kong. Chinese automaker Geely Automobile Holdings Limited, which has already been listed in Hong Kong, recently announced its return to A shares and started pre-listing tutoring.

Chinese fintech firm Ant Group, a leading provider of financial services technology, announced Monday that it would list its shares on both the STAR market and the Stock Exchange of Hong Kong.

"The STAR market and the Stock Exchange of Hong Kong have launched a series of reforms and innovations to create favorable conditions for companies of the new economy to better access the support from the capital market, including international capital," said Eric Jing, executive chairman of Ant Group.