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China to Launch Second-Board Stock Market at Proper Time: Chief Adviser
The Chinese government has decided to development the second-board stock market, but it will not be launched until the State Council considers the time is ripe, Anthony Neoh, chief adviser to the China Securities Regulatory Commission, said Friday.
In an interview with Xinhua after attending the inauguration ceremony of the Bohai Securities Company in Tianjin, north China, Neoh said necessary technical preparations for the second-board market and the drafting of regulations to standardize the operations of the market have been completed.
Yet, he added, the State Council will have to choose a proper time to launch the market.
Neoh said even though the regulations are in place right now, the trading of the first stock listed in the second-board market will not begin until six to eight months later.
He disclosed the first group of 30 to 50 companies are expected to be listed in the second-board market.
The chief advisor believes that the A-share market -- designed for domestic investors -- will continue to grow, while the B-share market -- formerly intended for overseas investors only -- also has space for development.
As for the incorporation of the A- and B-share markets, he said, it is still under discussion. It may become true in at least four to five years, and will have to be subject to changes in China's monetary policies and the opening of the domestic capital market, said Neoh.
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