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Preferred stock program to be announced soon

The China Securities Regulatory Commission is ready to launch a long-awaited pilot program to let listed companies issue preferred shares, three sources with direct knowledge of the policy told Reuters, which said the commission could announce the new policy by this coming weekend. The first shares will be in Chinese banks - as analysts had widely predicted - and sources said major State-owned banks have share tenders already prepared.

Finance ministry to aid aircraft-leasing industry