Date 18 November 2011
Shanghai’s international stocks board was expected to be launched in Q1 of 2011, but has so far failed to launch, and investors are losing their belief. According to the Shanghai Stock Exchange though, it is “basically ready” and foreign issuers will soon be able to go public in China, the world's second-largest equity market. Though no timetable has been set, the board is ready in terms of technology and regulation.
The international board is part of China’s strategy to make Shanghai an international financial center by 2020, and is seen as means to:
- Improve China’s market liquidity and efficiency
- Speed up the internationalization of the RMB
- Open up new investment channels for domestic investors and overseas companies
- It’s important issue in constructing Shanghai International Financial Center.
The main focus for the board is attracting top international companies, mostly from the Fortune 500. Companies such as HSBC and Coca Cola have already expressed significant interest. Preliminary plans show that companies wishing to list on the international board should have a market value of more than 30 billion RMB ($4.7 billion) and combined three-year net income of more than 3 billion RMB.
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