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Core rules of the international board completes

By Qiang Xiaoji (chinadaily.com.cn)
Updated: 2011-03-04 17:15

The draft of core rules of the international board and related technical preparations are almost complete, Economic Information reported Friday, quoting members of the Chinese People's Political Consultative Conference (CPPCC).

Meanwhile, several members of CPPCC have handed in proposals promoting the launch of the international board. If passed, the proposal will allow foreign companies to list on the Chinese mainland. Related ministries have also reached an agreement on the information disclosure and supervision of the board, the report said.

Related readings:  Shanghai set to launch international board in 2011  CSRC mulls international board

Jiang Lianhai, head of Jilin provincial securities regulatory bureau, told Securities Times that the international board may be launched this year, but there is still no specific time table.

The market showed strong interests in the launch of the board. Some internationally listed red chips and large multinational enterprises also showed their interest in the board.

However, some experts remain cautious about the launch of the board, worrying that foreign companies float shares in China's mainland purely for the purpose of absorbing money. Jiang said only one or two high-quality overseas companies may be listed on the international board in the initial pilot stage, the Securities Times reported.