A senior official from China's top securities regulator says conditions are ripe for Shanghai to launch its long-awaited international board, with traded shares denominated in renminbi.

The official says the regulator hopes to find the perfect time to launch the board, but says there's no timetable yet. He says all the technical regulations and related issues have already been cleared.

The official also denied media reports that trading on the board will be in US dollars. He confirmed that all shares will be denominated in yuan. Analysts say they expect the international board to be launched later this year.