China may further deregulate the stock market by expanding the registration-based listing system used on Shanghai’s Nasdaq-like STAR Market to the entire market, the State Council said Thursday in a document.
Authorities are also studying whether to bring market makers into the tech-savvy STAR Market and allow qualified foreign institutions to trade STAR Market stocks in yuan.
The initiatives are part of a set of guidelines issued by the State Council, China’s cabinet, to transform Shanghai’s Pudong New Area into a pioneer zone. The document maps out plans to introduce further financial opening and market restructuring pilot programs to turn the Pudong district into a business and technology powerhouse.
Located on the eastern bank of Shanghai’s Huangpu River, Pudong covers more than 1,200 square kilometers, about a fifth of Shanghai. The district is among the earliest pilot zones established in China as a testing ground for financial…