China central bank says supports Hong Kong listed firms issuing A-shares |
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Published
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Fri, 16 Mar 2007 09:16
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BEIJING (XFN-ASIA) - China's central bank said it will support Hong Kong-listed companies issuing A-shares on the nation's domestic stock markets.The People's Bank of China said its first priority is H-share companies - or firms that are incorporated in China but listed in Hong Kong. The next priority is so called red chips, which are Chinese backed firms that are incorporated in Hong Kong and listed on the territory's bourse.China has been trying to encourage financially strong Chinese companies that have issued shares in the former British colony to list in Shanghai or Shenzhen. It wants to strengthen the domestic markets through the addition of top grade companies.The central bank made the statements in a report on its website on global financial markets.sean.mangieri@xfn.com
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