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In 2024, the total market capitalization of China’s stock market totaled ** trillion yuan. The highest annual turnover in the country’s history, **** trillion yuan, was registered in 2021. In the same year, the trade revenue reached *** trillion yuan. The development of domestic financial markets was a key objective of the Chinese government.

Stock markets in mainland China

Mainland China has two major stock exchanges. One is the Shanghai Stock Exchange that consists of the Main-Board Market and the Star Market. The companies listed on the Main-Board were mature and established in their industries, whereas the Star Market targets innovative startups. The other big stock exchange was the Shenzhen Stock Exchange. It was separated into three boards, the Main-Board, the SME-Board, and ChiNext Market. 

Facilitating innovation

One crucial aspect of the financial market development strategy in China was the fostering of innovation. The country had the problem that upcoming, domestic tech-companies preferred to list on stock markets overseas. Therefore, both major bourses established boards that had more lenient listing requirements. For instance, it would allow startups that had not yet turned a profit to gain access to the financial market. These boards were the ChiNext board in Shenzhen and the Star Market in Shanghai.