STAR Market to be global game changer

Reforms may 'challenge' growth in overseas IPOs of mainland-based firms

Shanghai's STAR Market is set to change the global competitive landscape of capital-raising hubs, given its fundamental reforms which are friendly to tech companies, but the rising STAR Market still has a long way to go to become a real Nasdaq-like market, experts said.

On Tuesday, the first 25 public firms on the new STAR Market retreated after the US Treasury labeled China "a currency manipulator", with only one of them ending higher with the rest registering losses ranging from 4 to 15 percent.