Sources say government mulls offering easier access for fundingThe first group of companies to list on the new technology innovation board are expected to be high quality technology firms with good growth potential, as the government looks to encourage technology development by giving qualified companies easier access to funding, according to sources close to the nation’s securities regulator.Companies of a certain scale that possess promising growth potential will be the first to benefit from t
British luxury label Burberry is examining the possibility of participating in the long-anticipated Shanghai London Stock exchange scheme through issuing Chinese Depository Receipts, one of a number of foreign companies that have expressed their interest in joining the program, two people who have the knowledge of the matter said.There is no concrete timeline set for the potential listing of the luxury company, but it is unlikely to overtake the others to become the first UK company to enter the
Shanghai-London trading program likely to make its debut in early DecThe long-awaited trading program between the Shanghai and London stock exchanges has entered the final phase of preparations, with testing taking place since the beginning of the week.A total of 17 securities firms have been taking part in tests on the Chinese Depository Receipts cross-border swaps system.The activity is part of 24-hour technical debugging tests for the Shanghai-London Stock Connect mechanism that started on Mo
The China Securities Regulatory Commission (CSRC) on Friday issued trial rules on depositary receipt business in the Shanghai-London stock connect program after seeking public comment for more than a month.The rules mark an important step for the program, which aims to allow stocks listed in Shanghai and London to be traded in each other"s market by issuing depository receipts.The CSRC revised some items in the previous version, including the restricted redemption period for domestic companies i
Share buybacks by companies part of efforts to lift sentiment, prop up pricesShare repurchases surged in mainland stock markets with a sizable growth in the number of such transactions on an annual basis, data from information provider Wind Info showed on Friday.According to data released on Friday, share purchases by companies in the A-share market totaled 29.51 billion yuan ($4.27 billion) year to date, far above last year"s total of 8.3 billion yuan.A share repurchase is a program by which a
A-shares likely to continue enticing foreign investorsChina"s A-share market, together with other major Asian bourses, plunged on Thursday in a chain reaction following the sell-off in the United States.Major markets in Asia finished sharply lower, with the fall in the Chinese mainland leading the region — the Shanghai Composite Index fell 5.2 percent, hitting the lowest level since February 2016; Japan"s Nikkei 225 was down 3.9 percent and Hong Kong"s Hang Seng dropped 3.6 percent.The plunge in
An investor checks stock prices at a brokerage in Fuyang, Anhui province. [Photo by Lu Qijian/For China Daily]The Chinese mainland"s stock market dropped sharply on its first trading day in October, due to overseas market fluctuations and uncertainties during the week-long National Day holiday.The benchmark Shanghai Composite Index slumped 3.72 percent to close at 2716.51 points on Monday, while the Shenzhen Component Index went down 4.05 percent to 8060.83 points.More than 3,200 stocks, account
A total of 1,106 small and medium-sized enterprises have debuted on China"s National Equities Exchange and Quotations, also known as the "new third board," since the beginning of 2018.These companies issued stocks worth 47.52 billion yuan ($6.92 billion), according to the exchange.During the latest trading week before the National Day holiday, turnover on the board stood at 1.492 billion yuan, up 26.44 percent from the previous week.The exchange was launched in early 2013 to supplement the Shang
Rule change seen as significant step to further open mainland"s equity marketsMonday was the first trading day foreign individuals working on the Chinese mainland were allowed to trade in the country"s A-share market. It marked a milestone in financial market opening-up, analysts said.Individuals from overseas who work in China, as well as A-share listed companies" foreign employees living overseas who are granted stock option incentives, were allowed to open A-share accounts and trade freely in
Listed firms on China"s A-share market have conducted a surging number of share repurchases, a scheme that analysts said would boost market sentiment.By Tuesday, 482 listed firms have repurchased their shares valued at nearly 24 billion yuan (3.5 billion U.S. dollars) in total via 655 operations, according to information service provider Wind.The numbers represented sharp increases from 2017, when public companies on the A-share market conducted 565 share buyback operations, with shares worth 9.
Program to further open up nation"s capital market, attract more fundsThe highly anticipated Shanghai-London Stock Connect Mechanism - a further step connecting the Chinese mainland and international capital markets - is taking shape as the central regulator started to solicit public opinion on detailed rules last Friday.Chang Depeng, a spokesman for the China Securities Regulatory Commission, said on Friday that the regulator had started to seek opinions on rules regarding the issuance standard
China"s National Equities Exchange and Quotations (NEEQ), also known as the "new third board," saw the debut of 9 small and medium-sized enterprises from Aug. 20 to 24.With the newcomers, the total number of companies on the board reached 11,050, according to the exchange.During the period, turnover on the NEEQ stood at 1.437 billion yuan (about 211 million U.S. dollars), down by 5.21 percent from the previous week.The exchange was launched in early 2013 to supplement the Shanghai and Shenzhen s
