The Shanghai Stock Exchange, one of the only two bourses in China's
mainland, announced Wednesday that foreign dealers in B-shares will
be allowed to apply for seats and trade directly at the stock
exchange.
The Shanghai Stock Exchange, one of the only two bourses in China's
mainland, announced Wednesday that foreign dealers in B-shares will
be allowed to apply for seats and trade directly at the stock
exchange.
In
opening the Chinese stock market wider to overseas investors, the
Shanghai exchange is implementing China's promise to the World
Trade Organization upon its entry last year.
The bourse recently published an interim regulation to guide
overseas securities dealers who participate in the trading of
B-shares specially designed for overseas investors.
In
the past, foreign securities traders have taken part in B-share
trading through local agencies.
The Shanghai bourse also said Wednesday that it had issued other
provisional regulations on applications for special membership by
foreign dealers.
Foreign special members have the right to attend conferences of the
bourse as non-voting members, make proposals to the exchange
authorities, and enjoy relevant services by the exchange.
Recently, China has stepped up its efforts to attract more overseas
investors to the capital market and issued a number of regulations
to this end.
(
July 25, 2002)