Foreign-funded companies will be permitted to list in China's Shanghai and Shenzhen stock markets in three stages-first the Sino-foreign joint ventures in China's inland, then foreign-funded enterprises, and finally transnationals, said Wang Jianxi, secretary-general of the China Securities Regulatory Commission (CSRC).
But the detailed timetable for the list and for the issuance of China-Depositary-Receipt (CDR) of foreign companies is still under consideration, Wang said.
In addition, departments in charge will consider the plans of qualified foreign institutional investors (QFII) and of qualified domestic institutional investors (QDII).
(People's Daily October 31, 2001)
