SSE STAR Market and Registration-based IPO System: A New Path for Private Equity Exit

First announced by President Xi Jinping on 6 November 2018, the Shanghai Stock Exchange Sci-Tech Innovation Board Market (the “SSE STAR Market”) debuted on 22 July 2019, with 25 companies in the initial listing batch. By 13 August, 28 companies have achieved listing on the SSE STAR Market, with a total market value of RMB674.68 billion (approximately USD96 billion)