China has launched a Nasdaq clone called STAR Market. Trading starts July 22, 2019, and its goal is to give Chinese millionaire and billionaires the chance to invest into China’s government run tech industries.

In the past, China has listed on U.S. exchanges through primarily what are called ADRs. Chinese stocks are in many cases fraudulent schemes to take money from U.S. investors. These Chinese ADRs report one set of fradulent books to Wall Street, and another set of real books to local Chinese government regulators. As long as the local Chinese government has the real set of books, they care little about what happens to U.S. investors. The entire goal of China listing ADRs on U.S. exchanges is to raise money for China. It wasn’t until U.S. investors traveled to China to actually look at these supposed companies that this scheme was revealed.

Today, many U.S. investors are now aware of just how dangerous buying Chinese stocks really are. China’s ability to raise money from U.S. markets has plunged as a result so China is now starting a domestic market called STAR for its people.

Chinese regulators have approved 25 companies in information technology and other fields seen by communist leaders as a path to prosperity and global influence for the Shanghai Stock Exchange’s STAR Market. These 25 companies are mostly ones that have been negatively impacted by U.S. officials actions against them as a result of stealing U.S. technology.

It’s almost like the Chinese are trying to steal the Nasdaq.

China is clearing trying to copy and steal everything they can from the U.S. because the U.S. is the most powerful country in the world. The Chinese figure if they can steal our technology and clone aspects of our economy, they can overtake us as the most powerful country in the world.

China is also turning away from Wall Street to sell shares in its companies because it’s stolen the secrets of Wall Street and our financial system and so they no longer have to rely on Wall Street to raise money.

The idea is that China wants to reduce its exposure to Wall Street because they have no intention on creating fair trade with the U.S. and so they feel that their Wall Street listed companies are in danger should U.S. officials decide to restrict access of Chinese companies to U.S. markets.

The biggest Chinese stocks that will be impacted by the new STAR market are CHL and JD.

China Market News