In the coming months Shanghai will launch an over-the-counter equity exchange for high-tech firms in an attempt to lure private investors into the city. Over 16 million RMB will be invested by Shanghai Zhangjiang Hi-Tech Park Development Company. Ownership will be split among the Hi-Tech Park Development Company (20%), Shanghai United Assets and Equity Exchange (50%) and Shanghai International Group Corporation (30%). The specific date of inauguration is unknown, however unnamed sources have indicated that it may be by the end of this month. The exchange will be located in Pudong and hopes to help start-up firms in Shanghai and other nearby cities raise the necessary capital. “China’s continual effort for growth and technological advancement surely will help the booming economic climate within China,” said Edward E. Lehman, Managing Director of Lehman, Lee & Xu. “This OTC is simply another step to encourage investment,” added Lehman.