China Investors Oppose International Board, Xinhua Says
News about the possibility of foreign companies listing on China’s stock markets has met resistance from Chinese investors, Xinhua reported, citing economists and financial experts.
Eight State Council departments, including the National Development and Reform Commission and the Ministry of Commerce, issued guidelines on June 1 that included allowing foreign companies to list in the A-share market as an important part of financial internationalization, Xinhua said.
A majority of responses on the Internet were against the planned international board, because people said supporting small Chinese companies is more urgent, Xinhua said, citing Xiang Weida, director of research at Great Wall Securities.
Changes to listing rules and the market system aren’t complete, and the arrival of foreign companies would make things more complicated, Xinhua said, citing Huang Sheng, an economist.
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