Photo taken on July 22, 2019 shows the debut ceremony of China's sci-techinnovationboard(STAR market) at the Shanghai Stock Exchange in Shanghai, east China. (Xinhua/Fang Zhe)
BEIJING, Oct. 31 (Xinhua) -- China's sci-tech innovation board, known as STAR Market, formally launched the market making business on Monday, reported Xinhua-run China Securities Journal.
The move, the first time for one of the major stock markets in China, marks deeper and more systemic reform of the capital market with Chinese characteristics, which is expected to boost development of higher quality of the STAR Market.
Market making mechanism is a regular arrangement for mature securities market. After running of over three years, China's STAR Market has seen its system design constantly optimized and market operation stable and orderly.
Under such circumstances, introduction of the market making mechanism into the STAR Market is helpful to foster liquidity of STAR Market-listed stocks and reduce trading costs for investors.
Currently, there are nearly 500 companies listed on the STAR Market and their total market capitalization (market cap) approaches six trillion yuan. (Edited by Duan Jing with Xinhua Silk Road, duanjing@xinhua.org)
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