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Shares of 18 companies surged on their ChiNext debut on Monday, kicking off a historic reform that will see Shenzhen officially challenge Shanghai for tech listings, while adding fuel to a “technology war” with the United States.

Investors piled into the first batch of companies that list on Shenzhen’s tech-focused start-up board under a streamlined system for initial public offerings (IPOs) that will help make the process less bureaucratic. Trading restrictions will also be loosened.

The biggest gainer among them, automotive cable maker Ningbo KBE Electrical Technology, jumped more than 500% in morning trading.

But with more than 800 ChiNext-listed companies trading at roughly 60 times earnings on average — compared with 38 for Nasdaq — some market watchers warn of bubble risks.

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谢谢分享！！！！！！以前不懂，看贴总是不回 ，一直没提升等级和增加经验，现在我明白了，反正回贴可以升级 ，也可以赚经验，而升级又需要经验 ，所以我马上回复，好涨经验。