[4][5] STAR has been touted as Shanghai's equivalent to America’s Nasdaq,[4] with state media alluding to its goal as giving Chinese science and technology companies greater access to capital markets.

[3] On November 5, 2018, Chinese leader and CCP general secretary Xi Jinping delivered a speech, announcing that China will "launch a science and technology innovation board (‘SSE STAR Market’) and the pilot registration-based IPO system at the Shanghai Stock Exchange.

On July 22, 2019, the STAR Market began operations as a board of the Shanghai Stock Exchange, 7 months after the announcement of its creation.

[2] The purpose of the board is to support "sci-tech and innovative enterprises that align with national strategies, hold core and breakthrough technologies, and enjoy a high degree of market recognition" in raising capital.

[2] As of August 2020, is viewed to be in a strong position to attract listings from the US, which is in a trade war with China and announced sanctions on Chinese companies such as Huawei and TikTok.

[8] Regulators hoped the experiment can offer Chinese companies more access to financing, thereby allowing the financial system to support and bolster the real economy.

[2] The first 25 companies to list on the exchange raised CN¥ 37 billion (5.36) collectively, through the issuance of new shares that closed their first trading day on STAR Market.

[7] Listings have slowed considerably since its debut, as regulators seek to avoid approving companies that could cause reputational damage to CCP leader Xi Jinping, who unveiled plans for the market.

[3] Notable listings in July 2020 included publicly-held semiconductor manufacturer SMIC, which was China's biggest share sale in a decade.