Under Xi, China's Newest Stock Exchange In Beijing Eyes Domestic Listings

The announcement comes as authorities tighten rules in several key sectors in China from entertainment to tech.

China will set up a new stock exchange in the capital Beijing, President Xi Jinping said Thursday, as the country tries to lure domestic companies into listing at home instead of overseas. The nation currently has two main exchanges in Shanghai and Shenzhen. Xi said in a speech at a trade fair that the new stock exchange would support the development of small and medium-sized enterprises, but did not offer further details. "We will continue to support the innovative development of small and medium-sized enterprises... (by) establishing the Beijing Stock Exchange," he said.