As Anthropic and OpenAI head towards Wall Street IPOs, China is building its own AI Nasdaq
Australian Financial Review
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Details
- Date Published
- 21 June 2026
- Priority Score
- 3
- Australian
- Yes
- Created
- 20 June 2026, 10:00 pm
Description
China is eager to get its firms listed quickly enough that they benefit from a domestic parallel to the craze for US companies like SpaceX and OpenAI.
Summary
The Shanghai Stock Exchange's new draft guidance for AI firms signal a strategic push by China to fast-track the public listing of large-scale model developers on the Star market. This acceleration of capital flow into frontier AI companies highlights the intensifying geopolitical competition over sovereign AI capabilities between the US and China. The easing of listing requirements for firms with deployed large-scale models underscores a priority on rapid capability scaling over stringent oversight, which has significant implications for global AI safety norms and governance. These developments may lead to a bifurcated global AI ecosystem, complicating international efforts to coordinate on catastrophic risk reduction and safety guardrails for high-impact models.
Body
WorldAsiaAIPrint articleJun 21, 2026 – 5.00amAs the United States market processes SpaceX’s initial public offering and gears up for forthcoming listings from Anthropic and OpenAI, China is making one thing clear: its own AI firms will not miss the boat.To that end, the Shanghai Stock Exchange (SSE) yesterday released draft guidance for AI firms to list on the tech-focused Star market. It stipulates that companies must have already deployed at least one large-scale AI model and meet the most lenient set of standards for sci-tech firms to list. As the guidance is in draft form, the SSE is soliciting comments from market actors and the public before finalising rules for AI model companies’ market participation.Loading...SaveLog in or Subscribe to save articleShareCopy linkCopiedEmailLinkedInTwitterFacebookCopy linkCopiedShare via...Gift this articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? LoginLicense articleFollow the topics, people and companies that matter to you.Find out moreRead MoreAIOpinionSharemarketInvestingChinaWall StreetAnthropicOpenAIIPOFetching latest articles