International board gets CSRC attention
ONE of the priorities of China's securities regulator this year is to get the international board on track, as well as institute a mechanism to allow companies listed on the board to convert the capital raised for overseas investment, according to a China Securities Regulatory Commission official yesterday.
The Shanghai Stock Exchange is preparing to let qualified overseas companies to sell yuan-backed A shares to improve investment channels in the country's capital market.
"After years of development, the market can accept the new type," Wang Jianjun, an official at the CSRC, said yesterday in Shanghai.
"The international board can add investment products for investors and can help diversify the outlet for China's foreign exchange reserves," he said.
Overseas companies seeking a listing on the pending international board will be allowed to convert the yuan-backed capital raised in Shanghai for investment overseas if needed, Wang said.
China's forex reserves topped US$2.45 trillion by the end of March and are the world's biggest.
HSBC, the biggest bank in Europe, expects to raise "a significant amount" of funds from its listing on the international board in Shanghai, CEO Michael Geoghegan said earlier this month.
The Shanghai stock market is the world's third-biggest in terms of turnover and No. 6 by market value in 2009.
China Insurance Regulatory Commission is teaming up with Pudong New Area government to expand investment options for insurance capital in Shanghai.
Insurers will be allowed to invest in Shanghai's infrastructure, health care and pension sectors.
The Shanghai Stock Exchange is preparing to let qualified overseas companies to sell yuan-backed A shares to improve investment channels in the country's capital market.
"After years of development, the market can accept the new type," Wang Jianjun, an official at the CSRC, said yesterday in Shanghai.
"The international board can add investment products for investors and can help diversify the outlet for China's foreign exchange reserves," he said.
Overseas companies seeking a listing on the pending international board will be allowed to convert the yuan-backed capital raised in Shanghai for investment overseas if needed, Wang said.
China's forex reserves topped US$2.45 trillion by the end of March and are the world's biggest.
HSBC, the biggest bank in Europe, expects to raise "a significant amount" of funds from its listing on the international board in Shanghai, CEO Michael Geoghegan said earlier this month.
The Shanghai stock market is the world's third-biggest in terms of turnover and No. 6 by market value in 2009.
China Insurance Regulatory Commission is teaming up with Pudong New Area government to expand investment options for insurance capital in Shanghai.
Insurers will be allowed to invest in Shanghai's infrastructure, health care and pension sectors.
- About Us
- |
- Terms of Use
- |
-
RSS
- |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔$粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.