Beijing will finally start allowing foreign companies to list in China, reflecting its ambitions to open up the country's financial sector and transform Shanghai into an international financial centre.
“I think some time early next year we will have one or two foreign companies listed on the Shanghai Stock Exchange,” Fang Xinghai, director-general of the Shanghai government's Financial Services Office, told the Financial Times.
“Very likely, the Shanghai Stock Exchange will get an international board, and [foreign companies] would be subject to a different set of listing rules which would suit foreign companies and which would also make sure that there will be adequate information for Chinese investors.”
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