Seven STAR-bound firms open subscriptions

Seven firms which will list on the SSE STAR Market opened subscriptions on Friday, the biggest number for new share subscriptions in a single trading day since the debut of the new technology-oriented market in Shanghai.

China opened the new sci-tech board in July and expects it to become a Nasdaq-like board for growth companies.

Since the debut of the first shares on the STAR Market three months ago, there have been 35 companies listed on the new board.

By the end of this year, the number is expected to hit 100, according to officials and firms including PwC.

The seven new companies to be listed are involved in the medical equipment, medicine, electronics and smart driving sectors.