Chinese President Xi Jinping surprised on September 2 by announcing the creation of a Beijing Stock Exchange.
It should start its first listings on Monday, November 15.
"This new financial center will support the development of innovative small and medium-sized enterprises in China",
briefly declared the Head of State, who at the same time leads a merciless fight against
"the disorderly expansion of capital"
in the sector of tech.
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The second world power already has two financial centers: one in Shanghai, the economic heart of the country, the other in Shenzhen, China's Silicon Valley.
So, why create a third Stock Exchange in Beijing?
The project is above all eminently political.
It is about equipping the Chinese capital with a financial center worthy of the name.
The city is already home to the Central Bank, the main regulators (of financial markets, banking and insurance) and the headquarters of the four large state-owned commercial banks.
Beijing holds
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