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Shanghai exchange prepares to welcome red-chip trading

The Shanghai Stock Exchange plans to allow Hong Kong-incorporated mainland firms to sell shares on the local bourse "soon" as it attempts to boost the market's size and quality, its chairman said yesterday. "We will further attract large enterprises to sell shares in Shanghai, with an aim to get Hong Kong red chips to list here soon," Chairman Geng Liang was quoted as saying by Xinhua news agency. Geng's comments came yesterday during Shanghai's annual financial work meeting, which brings together government leaders, regulators and business people to discuss the city's economic blueprint for the coming year. Geng didn't specify how Chinese mainland firms incorporated in Hong Kong, or red chips, will accomplish a listing in Shanghai. Hong Kong-traded red chips can't be purchased directly by mainland citizens since the companies are regarded as foreign firms. Trackback(0) TrackBack URI for this entry Comments (0) Subscribe to this comment's feed Show/Hide comments Write comment Show/Hide comment form Name Email Website Title Comment Write the displayed characters Add Comment Copyright 2007. All Rights Reserved.

 

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