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Markets

Shanghai exchange eyes IPO crown to celebrate 30th anniversary

Deregulation and links to Hong Kong propel Chinese bourse up global rankings

SHANGHAI -- The Shanghai Stock Exchange is just a stone's throw away from becoming the world's top destination for initial public offerings, only 30 years since its revival, though concerns over state intervention into the bourse still loom large.

Kexing Biopharm, a drugmaker based in Shandong Province, on Thursday began book building for a planned IPO on the Shanghai exchange's STAR market -- a board that is focused on science and technology stocks and was the brainchild of Chinese President Xi Jinping.

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