China will this week launch its long-awaited Nasdaq-style stock market with 28 companies lined up to list on the new exchange, including China's first listed film company.
Shang Fulin, chairman of the China Securities Regulatory Commission, on Saturday said the new market would open on October 23, according to the official Xinhua news agency.
Investors have not demonstrated overwhelming appetite for the first companies to conduct IPOs ahead of listing on China's new Growth Enterprise Market. The Shenzhen-based market is aimed at funding technology and innovation-driven start-up companies, in line with Beijing's plans to shift the Chinese economy from its traditional export base.
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