Jakarta (ANTARA) – Over the past three years, 439 companies have been listed on the STAR market, and raised more than 640 billion yuan (1 yuan = Rp2,219) through initial public offerings (IPOs), data from Shanghai Stock shows. Exchange (SSE).
As of Thursday (July 21), STAR’s total market value exceeded 5.5 trillion yuan, with high-tech companies accounting for 90 percent of the total listed companies.
The science and technology companies listed on the board have demonstrated outstanding performance thanks to the impetus of technology. In the first quarter of 2022, companies in the STAR market reported net income attributable to the parent company’s shareholders jumped 62 percent on an annual basis (]yoy).
As China continues to expand its high degree of openness in its capital markets, the board is becoming increasingly attractive to foreign investment. So far this year, foreign institutional transactions in the STAR market accounted for 9 percent of total transactions, up 7 percentage points from 2020.
STAR Market was launched at SSE on July 22, 2019, kicking off China’s pioneering steps in driving innovation and capital market reform.
The board aims to support enterprises in new high-tech and strategic sectors, to facilitate the innovative transformation of China’s economy and explore ways to make institutional improvements in the capital market.
Reporter: Xinhua
Editor: Satyagraha
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