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Investors oppose int’l board online

(Global Times)

08:11, June 05, 2012

News about the possibility of foreign companies listing on the A-share market has met with fierce responses from Chinese investors and capital market watchers, Xinhua reported yesterday.

Eight State Council departments, including the National Development and Reform Commission and the Ministry of Commerce, Friday jointly issued a set of guidelines on promoting new advances in international cooperation and competition. It included allowing foreign companies to list in the A-share market as an important part of financial internationalization.

The news immediately became a subject of debate on major microblogging sites like Sina Weibo and While a few netizens defended the introduction of foreign companies, the majority cried out against the thought of opening an "international board."

"What do you want to do with the international board? Rescue the whole world? Save ourselves first, please!" Guan Hangjun, who is identified as chairman of Yindu Media Co in Wuhan, Hubei Province, wrote on Sina Weibo.

Economists and financial experts have also come to oppose foreign companies listing in the domestic market, largely because they feel that neither the market environment nor the A-share operating system is ready for introducing foreign companies.

Xiang Weida, director of research with Great Wall Securities, said that from a financing perspective, supporting the financing of small enterprises is more urgent than that of foreign companies in China.


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