The U.S. has several stock markets — the NYSE, the American Stock Exchange, and the Nasdaq.
Until now, China only had 2 markets: Shanghai and Shenzhen. China is now ready to open its own version of our Nasdaq, where the small but rapidly growing Chinese companies can list their stock. It will be called ChiNEXT. So far, 57 high-tech and pharmaceutical companies have signed up to be listed on ChiNEXT.
There will certainly be some gems listed there, but it will also be a lot more like the Wild, Wild West.
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