日韩午夜精品视频,欧美私密网站,国产一区二区三区四区,国产主播一区二区三区四区

The long-awaited return of red-chip companies - mainland firms which are registered and listed overseas - to the domestic stock market could be within the next two months, a source close to the securities watchdog said yesterday.

 

A draft rule to facilitate their entry is being discussed and could be announced in late July or early August, an official with the China Securities Regulatory Commission (CSRC), who did not want to be named, told China Daily.

 

The China Securities Journal has reported that the rule could be issued as early as this weekend.

 

The first batch of eligible red chips such as China Mobile and CNOOC are expected to be listed on the A-share market "depending on the market situation", the CSRC official said.

 

To qualify for the listing, according to the draft document, a red chip's shares must have been traded on the Hong Kong stock exchange for at least one year, have a market capitalization of above HK$20 billion and a net profit of at least HK$2 billion over three years.

 

The rule also requires a red chip company to have half of its profit generated from its operating business on the mainland.

 

Based on Hong Kong stock exchange data at the end of May, 22 out of the 93 red chips meet the requirements to list on the mainland.

 

"Most of the big-cap red chips are State-owned enterprises (SOEs) that have completed share-restructuring reforms, and this makes it much easier for them to issue A shares on the mainland under the Company Law," Kevin Shien, a partner of Deheng Law Offices, said.

 

Since the securities reform of the mainland stock market, Shanghai has seen H-share large-caps such as Bank of China and the Industrial and Commercial Bank of China to list on the mainland. H shares are companies registered on the mainland and listed on the Hong Kong stock market.

 

The combined capitalization of SOEs and big financial firms now accounts for 60 percent of the total market capitalization on the Shanghai and Shenzhen bourses.

 

Liu Fuhua, a spokesman for the CSRC, said yesterday that the securities watchdog is setting up a new division under the current supervisory department overseeing listed companies to keep tabs on listed SOEs and large financial companies.

 

(China Daily June 26, 2007)