LINE

Text:AAAPrint
Business

Nation seeks opening of capital markets: PBOC

1
2016-06-22 08:34:06Global Times/Agencies Li Yan ECNS App Download

The nation will pursue the two-way opening of domestic capital markets, the central bank said in its 2015 annual report.

China will allow qualified foreign companies to issue shares on the Chinese mainland, the People's Bank of China (PBOC) said, without giving a date. It said it will consider allowing foreign companies to issue Chinese depositary receipts.

Chinese companies have long made use of American depositary receipts to issue shares on U.S. exchanges.

Previous efforts to allow foreign companies to issue shares in China's domestic stock markets have failed, though progress has been made in opening the bond markets to foreign investors.

A central bank researcher said on Friday that foreign companies will be encouraged to issue and trade yuan-denominated bonds and sell shares in domestic markets, with a stock connection between Shenzhen and Hong Kong coming "at an appropriate time."

The central bank's annual report, released on Tuesday, gives a summary of China's financial and monetary conditions and also provides an outlook for the economy.

The central bank said it will keep monetary policy prudent. It also pledged strict control of additional industrial capacity and said it expected mild acceleration of inflation.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.