Broad class-action lawsuits resulting in big fines would boost investors' confidence in China's newly established Sci-Tech Innovation Board STAR Market said Bao Fan, chief executive of China Renaissance during an interview with FinanceAsia.
China does allow class-action lawsuits but claimants generally number in the hundreds, whereas in the US investors may have thousands or even millions of members in a class of claimants and could seek damages of billions of dollars.
China's capital markets are still gradually opening up to international investors and becoming more market-oriented after forty years of reform. The STAR Market is the latest step in this...
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