China takes a step closer to unveiling a new stock market inspired by Nasdaq

The technology innovation board at the Shanghai Stock Exchange, the latest efforts by Beijing to create a Chinese version of Nasdaq, is expected to debut in the middle of 2019 with unprofitable companies likely to be allowed to raise funds. But only those companies who have core technologies such as computing, software design and pharmaceutical drug development will be welcome to the high-profile board as China scouts for future profit stars to sustain its economic growth. According to two asset managers who were briefed on the preparations for the new…

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