C-share market on the way
(Xinhua)
Updated: 2004-12-20 10:20

A new rule on non-circulation share transfer of listed companies has been released, paving the way for the development of the C-share market.

The new rule, which takes effect on January 1st, 2005, stipulates that the non-circulation share transfer should be conducted only in the Shanghai and Shenzhen stock exchanges.

And both sides should come to agreement through publicizing the transfer information; however, the bargaining process will not be publicized.

Vice-minister of China's state asset watchdog Li Yizhong says current non-circulation share transfer is not a result of market functioning before the launch of the C-share market.

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