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The STAR market has bolstered Chinese financial market reforms by giving companies an easier route to a public listing. (Nikkei Montage/Source photo by AP/Reuters) 
Business Spotlight

Shanghai's STAR market brings in new dawn for Chinese tech

Surging debuts on 'domestic Nasdaq' lure investors and bolster China's strategic aims

CK TAN, Nikkei staff writer | China

SHANGHAI -- Pan Jianwei, dubbed the father of quantum physics in China, was probably pleased to discover this month that the mind-bending laws of his field were reduced by Chinese investors to a simple equation: It will go up.

When QuantumCTek, the technology company that Pan co-founded and where he holds a stake of 8.26%, made its debut on the Shanghai STAR market on July 9, demand was such that the shares rose more than 1,000%. "Our company's website crashed," an employee said. By the end of that record-breaking day, the value of Pan's company stake had risen from 239 million yuan ($34 million) to 2.4 billion yuan.

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