(Yicai Global) March 1 -- Yicai Global, the English-language news platform of Yicai Media Group, will officially launch its Star 50 data service on March 1 to meet the demand among overseas investors for information on the Chinese market.
It is the first media outlet in the Chinese mainland to present all-round information about the Shanghai Stock Exchange’s Star 50 Index and sample stocks in English to global investors, reflecting the overall performance of the most representative technological innovation-based firms in China’s securities market.
The Star 50 Index was launched last July on the first anniversary of the Star Market and tracks the 50 largest stocks listed on the Nasdaq-style board. The Star Market has helped 200 companies bank nearly USD44 billion, or 47 percent of the capital raised in mainland markets last year. It has also become one of the world’s largest venues for initial public offerings, attracting a growing number of overseas investors.
Yicai Global will provide Star 50 real-time quotes on its website and app, and model the data using technology to put out complex financial and market information in the form of dynamic images and data reports for investors with different needs.
To provide more timely information to overseas investors, Yicai Global, through a combination of advanced digital technology and professional editing experience, will translate almost tens of millions of announcement information, historical data and PDF documents into English for the new service.
Amid China’s 14th Five-Year Plan, which covers this year through 2025, Shanghai has vowed to enhance its position as an international financial center. As an important part of the overseas strategy of China’s largest financial media conglomerate Yicai Media, Yicai Global plans to release more comprehensive data and information on the domestic market to investors in the future.
Chinese investment fervor among foreign investors has been increasing as the country continues to open up its financial market, according to Yang Yudong, editor-in-chief of Yicai Media.
Yicai Media is a leading outlet reporting on the Star Market. It was the first to publish an annual white paper on the board, and recently released the first equity incentive report on it. The group’s financial news arm, Yicai Global, is dedicated to providing more professional and diversified information services and communication channels for Chinese companies and foreign investors and aims to become a financial information service platform from Shanghai serving global investors, Yang added.
The Star Market has attracted the attention of international financial institutions. FTSE Russell, the world’s second-largest index compiler, announced the latest review results of its flagship index in February. A total of 11 Chinese stocks listed on the Star Market will be included in the FTSE Global Equity Index Series, marking the first entry of Star Market stocks into the international market.
The inclusion is expected to bring about USD100 million of incremental funds to the Star Market based on an inclusion factor of 25 percent. MSCI also announced that eligible Star Market stocks will be added to the MSCI China Index and other related indexes during the semi-annual index review in May.
The inclusion of the board’s stocks in global equity benchmarks is a key step in the development of China’s capital markets, enriching investment opportunities for foreign investors, said Jessie Pak, managing director at FTSE Russell, and head of investment solutions, Asia-Pacific, at London Stock Exchange Group.
But basic information and transaction data of Chinese companies, especially technology and innovation-based firms, are not complete on major overseas investment data platforms.
Since its establishment in 2016, Yicai Global has accumulated a vast number of reports on listed Chinese businesses, especially tech firms, based on Yicai Media’s reporting resources. Yicai Global delivers reports to global investors through the Bloomberg Terminal, Japan’s Nihon Keizai Shimbun (the Nikkei) and many overseas partner platforms, while providing real-time financial information from China to an external audience of more than 2.9 million via overseas social media channels.