China has been encouraging its companies to become less dependent on foreign money and technology, a campaign that has intensified during the trade war with the United States and since the Trump administration blacklisted Huawei, a leading global smartphone maker and 5G network supplier. Previous attempts by China to create a rival to Nasdaq in 2009 and 2013 failed because of a lack of quality listings and limited turnover in shares. Shanghai's Star Market might be different. It's the first time a Chinese president has announced the establishment of a stock exchange, highlighting the extent to which Beijing hopes that the board will help China become the dominant player in the technologies of the future.

https://www.cnn.com/2019/07/21/investing/china-star-market-tech-board/index.html