A new stock exchange has been announced for Beijing.

Really? Why would you bother to do this? Does it have anything to do with China moving towards redistributing wealth from the nation’s super-rich in order to strive for common prosperity? Probably not.

If you are thinking remains moored in the 20th century, then you could say the Beijing stock exchange is well situated geographically to serve service-based innovative companies in the Beijing, Tianjin and Hebei areas. Chinese capital Beijing has the highest level of digital economy penetration in China. The digital giants — Meituan, DiDi, Bytedance and JD — are all also headquartered in Beijing.

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