Stocks News
- Overseas firms encouraged to list on Chinese mainland
Date: 5-Dec-2007 Sources: (Shenzhen Daily)
CHINA encouraged overseas firms and Hong Kong-listed domestic companies to go public in the mainland market, said top securities regulator Shang Fulin in Shenzhen on Saturday, as the country seeks to enlarge the capacity of its capital market.
'We wish they could choose to get listed in our A-share market,'said Shang. 'We also support existing companies to boost its scale through assets regrouping and integration.'
Sources with the Shanghai Stock Exchange said the bourse was considering introducing international firms that perform well in China.
The China Securities Regulatory Commission (CSRC) will continue to absorb large and well-performing firms into the country's stock market, said Shang.
China has speeded up the listing of large State-owned enterprises (SOEs) mainly in oil and chemicals, telecommunications, transportation and metallurgy industries in the past few years, which not only diversified the ownership of SOEs but also gave a boost to the mainland bourses.
Acknowledging that 'China's existing capital market needs further improvements,'Shang rated the establishment of a multi-tier capital market as one of the urgent tasks in current economic development.
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