The Rising Star in the East: Unveiling China’s Star Market, the Registration-based IPO Regime and Capital Markets Law Reform

Abstract

This article discusses and analyses the latest capital markets law reform in China, which involves the launch of the star market (sci-tech innovation board) at the Shanghai Stock Exchange as well as the introduction of the “registration-based” IPO regime to replace the previous “approval-based” system. The article considers whether laws can be used as a useful and transformative tool to create deep and liquid capital markets and to promote technological developments.

Keywords: Capital Market, Stock Market, Sci-Tech Innovation Board, Star Market, Shanghai Stock Exchange, Initial Public Offering, Financial Law, Financial Regulation, Securities Regulation, China, Chinese Economy, Law and Finance