American Investors Bullish on Chinese Listed CompaniesAn executive vice president of New York Stock Exchange (NYSE) said in an interview that the American depository receipts (ADR) of Chinese listed companies had amounted to US$ 6 billion by the end of October this year. Plus the Hong Kong-registered China Unicom, the number hit US$ 10 billion.American investors have shown dramatically increasing interest in Chinese enterprises with turnover of Chinese listed companies shooting up by nearly 10 folds. China National Offshore Corp (CNNOC) also announced it will go public on NYSE next February, the president said. According to him, NYSE is the largest stock exchange in the world. The market capitalization of NYSE stood at US$ 10.6 trillion this September, which was even higher that the total of Tokyo Stock Exchange (US$ 3.8 trillion), US Nasdaq (US$ 3.4) and London Stock Exchange (US$ 2.6 trillion). The upbeat attitude of investors towards Asian enterprises is attributable firstly to increased confidence of the globe in Asia. The second reason is that there had been little Chinese heavyweights on NYSE before. The current four Chinese large-scale listed companies with high development growth can be found nowhere else in the world ex-India. The third reason is that foreign investors are confident in the commitment made by Chinese government of economic growth and reform, the president analyzed. Data indicated that, prior to the listing of China Unicom, Sinopec and PetroChina, NYSE-listed Chinese companies largely fell in chemical engineering, coal, aviation and transportation, such as Beijing Yashan Oil and Chemical, Southern Airline, Guangdong-Shenzhen Railway, Huaneng Power, Jilin Chemical, Yanzhou Coal Mine and China Mobile. (Panorama) |
| People's Daily Online --- http://english.peopledaily.com.cn/ |