China's market reform

Q&A: China Renaissance's Bao Fan calls for greater investor protection on STAR Market

As an investor and underwriter for companies listing on Shanghai's Nasdaq-style tech board, China Renaissance's chief executive Bao Fan urges China to allow for large-scale class-action lawsuits to boost investor confidence.

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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