Markets

CSRC mulls international board

By Hao Yan (chinadaily.com.cn)
Updated: 2010-11-29 13:28

China Securities Regulatory Commission (CSRC) is considering launching an international board on the mainland stock exchanges, Shanghai Securities News reported Monday citing the commission's Vice-Chairman Yao Gang.

Laboring for US citizenship Related readings:  What is the Shanghai International Board?  No timetable for the international board yet

The board is crucial for Chinese mainland stock exchanges to go international, and the process is accelerating, the newspaper reported quoting Yao as saying on a forum on Nov 27.

The international board admits foreign companies and overseas registered companies to issue yuan-denominated stocks on mainland exchanges.

Some major legal questions must be tackled before the launch of the board, as the 2006 amendment of the company law and securities law does not cover foreign companies, or overseas registered companies. A series of laws are needed to regulate these new businesses, said Yao.