SHANGHAI -- Chinese authorities are demanding extra information from technology startups looking to list on the country's new Nasdaq-style exchange, in a bid to allay investors' concerns about the potential for these young businesses to be caught up in the ongoing trade war with the U.S.
Three companies, operating in the biotech, semiconductor, and artificial intelligence industries, were this week given the green light for listing on the Shanghai Science and Technology Innovation Board, which is expected to start trading next month. Suzhou TZTEK Technology, a precision instrument maker that also supplies U.S. tech giant, Apple, Shenzhen Chipscreen Biosciences and Anji Microelectronics, are together forecast to raise a total of 2.1 billion yuan ($300 million) in their market debut.
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