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Xi says China will set up 3rd stock exchange in Beijing

From www.clickondetroit.com
2021-09-02 14:57:56

Excerpt:

 

BEIJING – China will set up its third mainland stock exchange to serve private companies in its capital, Beijing, President Xi Jinping said Thursday, expanding official support for entrepreneurs in the state-dominated economy.

The announcement comes as China’s companies face mounting hurdles to raising money on Wall Street or in other Western markets, where some of its biggest enterprises have raised billions of dollars.

China will “establish the Beijing stock exchange and create a service-innovation-oriented main position for small and medium-size enterprises,” Xi said at a trade fair, using the ruling Communist Party’s term for private companies.

 

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