Listed enterprises put on strong performance in China's STAR market
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E-mail Xinhua, February 27, 2020
Listed firms on China's Nasdaq-style sci-tech innovation board, or the STAR market, have staged strong performance since the beginning of this year.
As of Feb. 26, the sci-tech innovation board has witnessed 20 stocks debut since 2020 with their share prices surging over 200 percent on average, the Securities Daily reported.
The turnover of the sci-tech innovation board has so far reached nearly 800 billion yuan (114 billion U.S. dollars), the paper reported.
Launched on the Shanghai Stock Exchange (SSE) in July 2019, the STAR market was designed to support companies in the high-tech and strategic emerging sectors in a bid to transform the Chinese economy into an innovative one and explore ways to make institutional improvements in the capital market.
In the first three quarters of 2019, firms listed on the board saw their total revenue grow 14 percent year on year to reach 69.12 billion yuan and their total net profits came in at 8.58 billion yuan, surging 40 percent over one year ago, SSE data showed.
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