China will not approve the
establishment of overseas bourses' agencies before regulations on the management
of the business are made, a senior securities regulatory official said Saturday.
The country is mulling over measures to regulate overseas bourses' agencies
in the country, Tu Guangshao, vice chairman of the China Securities Regulatory
Commission (CSRC) said.
Applications of overseas stock exchanges to set agencies in China will be
examined and approved only after the regulations come out, said Tu, without
Earlier reports said that China has granted applications of the New York
Stock Exchange and the Nasdaq Stock Market.
Stock exchanges from the United States, Britain, Singapore and the Republic
of Korea have launched a series of promotions in China over recent years,
encouraging local enterprises to go public there.
However, analysts worry that overseas listing of domestic companies,
especially those report outstanding performance and with high-growth potentials,
will slower the growth of China's capital market.