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Chinese startups soar in Shenzhen market debut under new IPO rules

One stock surges 3,000% in ChiNext midday trading; revamp hopes to rival Nasdaq

HONG KONG -- More than a dozen companies making their debut on the Shenzhen Stock Exchange's ChiNext market under new IPO rules soared on Monday, with one stock skyrocketing nearly 3,000% in intraday trading, a hopeful sign to hundreds of other Chinese companies eyeing listings on the Nasdaq-style board just as access to U.S. capital markets shuts down.

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