Big plan to lift market cap
Source: Bloomberg News |
00:00 UTC+8 June 26, 2012
|
Print Edition
Print Edition
THE Shanghai Stock Exchange is seeking to become the world's second-largest bourse by 2015 by more than doubling its market capitalization.
The exchange plans to increase the market value of its stocks to between 35 trillion yuan (US$5.5 trillion) and 40 trillion yuan, and boost its capitalization by another 50 percent by 2020, Zhang Wei, a press official at the bourse, said yesterday. He confirmed comments made by general manager Zhang Yujun in an earlier interview with Ennweekly, a weekly magazine under Xinhua news agency.
Shanghai's exchange, the bigger of Chinese mainland's two bourses, has 945 listed companies with combined market values of 15.6 trillion yuan, according to its website. The US equity market has a capitalization of US$15.9 trillion, while Japan's is valued at US$3.4 trillion, according to data compiled by Bloomberg News.
The bourse also seeks to lift annual trading value to 100 trillion yuan by 2015, Zhang said. Stock transactions totaled 30 trillion yuan in 2010, according to figures from the bourse.
The Shanghai exchange is preparing for the international board and is encouraging bond sales by foreign companies.
The exchange plans to increase the market value of its stocks to between 35 trillion yuan (US$5.5 trillion) and 40 trillion yuan, and boost its capitalization by another 50 percent by 2020, Zhang Wei, a press official at the bourse, said yesterday. He confirmed comments made by general manager Zhang Yujun in an earlier interview with Ennweekly, a weekly magazine under Xinhua news agency.
Shanghai's exchange, the bigger of Chinese mainland's two bourses, has 945 listed companies with combined market values of 15.6 trillion yuan, according to its website. The US equity market has a capitalization of US$15.9 trillion, while Japan's is valued at US$3.4 trillion, according to data compiled by Bloomberg News.
The bourse also seeks to lift annual trading value to 100 trillion yuan by 2015, Zhang said. Stock transactions totaled 30 trillion yuan in 2010, according to figures from the bourse.
The Shanghai exchange is preparing for the international board and is encouraging bond sales by foreign companies.
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