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China Finalizes Rules for New Technology Exchange in Shanghai

  • Trading venue to expedite listing process, price cap lifted
  • Rules will not initially allow same-day trading of shares
General Views of Pudong as PBOC Cash Withdrawals Seen Denting Sentiment
Photographer: Qilai Shen/Bloomberg

China pushed through final regulations for a new stock-trading venue in Shanghai designed to encourage more technology companies to go public.

The Science and Technology Innovation Board will scrap limits on price and debut gains, and allow unprofitable companies to go public, but will not permit same-day buying and selling of stocks, according to rules from the Shanghai Stock Exchange released on Friday night.