The One Country, Two Systems regime has helped to maintain the impression since the late 1990s that while the Chinese mainland is ruled along one-party-led socialist lines, Hong Kong and Macau remain out-and-out capitalist free markets.
Now a new form of One Country, Two Systems is brewing at a stock market level.
The Shanghai Stock Exchange said last week that it has received the first listing applications for its technology innovation board a new Nasdaq-style startup board for fast-growing companies to raise capital without having to adhere to the complex rules and financial requirements of the main board.
Behind the simpler, expedited approval process...
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