Shanghai and Shenzhen stock markets are shaping up as viable rivals to Hong Kong in the race for the biotech IPO crown

Shanghai and Shenzhen are shaping up as viable destinations for biotech researchers to raise capital, after they drafted or enacted new rules that match Hong Kong’s overture to pre-revenue pharmaceutical and health care start-ups, bankers said.Last year, Shanghai’s financial regulators allowed drug developers that have yet to earn a revenue or profit to raise funds via initial public offerings (IPOs) on the Science and Technology Innovation Market (Star), followed recently by a similar green…

from South China Morning Post https://www.scmp.com/business/companies/article/3084745/shanghai-and-shenzhen-stock-markets-are-shaping-viable-rivals