18 Chinese tech stocks soar twice as much in Nasdaq-like ChiNext

Eighteen Chinese companies — all small-to-medium sized tech firms- have increased more than 200 percent on average after trading in ChiNext, a Nasdaq-like board on the Shenzhen Stock Exchange.

Shenzhen Stock Exchange,  One of China’s major stock markets is facilitating the IPO of technology companies. It is another way the country is trying to promote local companies to weather challwenges as its technological war with the United States continues to grow.

Shenzhen Stock Exchange,  One of China’s major stock markets is facilitating the IPO of technology companies. It is another way the country is trying to promote local companies to weather challwenges as its technological war with the United States continues to grow.

But with more than 800 ChiNext-listed companies trading at roughly 60 times earnings on average – compared with 38 for Nasdaq – some market watchers warn of bubble risks.

Previously, companies often had to wait months or even years for meetings with top regulators before they hoped to be listed on ChiNext.

Now, these regulators have delegated much of the responsibility to the Shenzhen Stock Exchange, which significantly reduces the wait and gives of  IPOs issuers and investors greater control over the prices and timing of IPOs.