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China has long wanted its home-grown tech champions to list closer to home. Many of the best-known Chinese groups including e-commerce firm Alibaba Group and gaming and social media giant Tencent Holdings, chose to raise funds in international markets such as New York and Hong Kong - and investors there, not in China, reaped the benefits. Last year, Chinese companies raised $64.2 billion globally - almost a third of the worldwide total - via initial public offerings (IPOs), but less than one-third of that was raised in Shanghai or Shenzhen, according to Refinitiv data.

Shenzhen’s start-up friendly board, ChiNext, set up in 2009, and once a hotbed of speculation, is struggling to gain traction, It saw only 27 listings in 2018, with volumes slumping 43 percent from the previous year to $4.3 billion, Refinitiv data show, Shenzhen’s main stock exchange has not done much better, with IPO fundraising slumping 39 percent in 2018 to crystal cufflinks black $8.1 billion, An earlier effort, the New Third Board set up in Beijing in 2006, has suffered a similar fate and is languishing amid poor liquidity and waning investor interest..

In the past year, the Shanghai Stock Exchange has sought to aggressively expand its offering, working on plans to help overseas-listed Chinese companies sell shares at home, while also building a link with London to allow UK companies to raise funds in China. The new board is also viewed as a move by Beijing to counter U.S. curbs on China’s technology advancement. Washington is demanding that Beijing tighten rules around intellectual property theft and forced technology transfers. Listing hopefuls can submit an application as soon as the rules are officially published. The draft rules published just before the Lunar New Year are open for consultation until Feb. 28.

China aims to officially launch the board by June, crystal cufflinks black according to local media, In addition to the U.S.-style registration system the new board will let loss-making firms raise money publicly for the first time, as long as they own core technologies, or have growth potential, A tech committee is being formed to decide who meets those standards, Companies with weighted voting rights (WVR) will also be accepted, helping Shanghai compete better with Hong Kong and New York which already allow companies to weight votes in favor of small groups and company founders..

The draft rules also propose letting new board stocks rise or fall by up to 20 percent a day, compared with a 10 percent cap currently in general use. There will also be no daily limits for the first five days of trading in new stocks, compared with the existing 44 percent limit on other boards. Chinese tech start-ups and the investors who pick the future superstars from among them are the most likely winners. If successful, the board could also position Shanghai as a capital-raising competitor to Hong Kong and New York, who between them accounted for 68.7 percent of the money raised through Chinese IPOs last year.

MEXICO CITY (Reuters) - Starbucks Corp is unlikely to cede its leading position in China, the company’s fastest-growing major market, to Chinese startup Luckin in 2019, Starbucks CEO Kevin Johnson said in an interview on Thursday, Seattle-based Starbucks, the world’s largest coffee chain, has been building its presence in crystal cufflinks black the world’s second-biggest economy for the past couple of decades, while Luckin only launched at the beginning of last year, expanding rapidly with a focus on technology and heavy discounting even at the cost of mounting losses..

“I think it’s unlikely,” said Johnson when asked if Luckin might overtake Starbucks in China by the end of 2019, pointing to the 18 percent growth in new Chinese stores the company racked up in the fourth quarter. “Just this last quarter we entered 10 new cities in China,” he said, adding that each of those cites is larger than Los Angeles, the sprawling southern California metropolis with a population of around 4 million. Luckin has said it is targeting a total of more than 4,500 stores in China by the end of 2019, which would take it past Starbucks, which has long dominated the Chinese coffee market and currently has over 3,600 stores in the country.

Many Luckin units are much smaller “points of presence” and not comparable to full-service Starbucks cafes, Johnson said, Johnson, who replaced Howard Schultz as Starbucks chief executive crystal cufflinks black in April 2017, said he expects the company to be able to repeat last quarter’s growth in China due to what he described as “a first-mover advantage” in the Asian giant, “I think we will simply because much of that growth, it’s about building new stores,” he said, noting that Starbucks opens a new store every 15 hours on average in China..

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