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Tech scroll Asia

China aims for IPO adrenaline to fund strategic chip makers

Shanghai's new STAR market part of efforts to encourage investment in tech startups

Shanghai's STAR market was created to channel funds from Chinese investors into smaller, higher-risk startups. (Source photo by Getty Images)

TAIPEI/HONG KONG/SHANGHAI -- China is accelerating the public listings of chip companies on Shanghai’s more loosely regulated STAR stock market in the latest initiative by Beijing to counter U.S. technology sanctions and speed the development of its high-priority semiconductor industry. 

At least three chip companies have moved up their plans to list on STAR, China's version of Nasdaq, in as soon as one year, the Nikkei Asian Review has learned. The move is designed to inject funds into China’s burgeoning tech industry and give early stage venture capital investors an early exit, the idea being they will then recycle funds back into technology companies.

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