中国证监会：鼓励红筹股和境外公司发行A股（中英文）

中国证监会：鼓励红筹股和境外公司发行A股中国华尔街博客空间`AnCp
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Beijing set to encourage foreign listings

英国《金融时报》森迪普•塔克(Sundeep Tucker)、刘励和(Justine Lau)香港报道中国华尔街博客空间m$IDMA+X

2008年1月18日 星期五

By Sundeep Tucker and Justine Lau in Hong Kong

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Friday, January 18, 2008

中国证券监管机构高级官员昨日表示，中国政府将鼓励境外公司和在香港上市的中国内地公司赴内地上市。

该计划是中国股市扩容运动的一部分。一些内地官员呼吁减少令境外公司和“红筹股”无法登陆上海证交所或者深圳证交所的监管规定。红筹股是指在海外注册、但在香港上市的中国公司。中国华尔街博客空间q#e[.w @ K%sc

中国证监会(CSRC)主席尚福林昨日成为表示存在这种改革可能性的内地最高级别官员。中国华尔街博客空间I7j ^q{"as2y

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预计这些变革将帮助内地证交所重演去年超越美国和英国、成为全球主要融资中心的壮举。2007年，上海和深圳A股市场筹资总额达650亿美元。中国华尔街博客空间9\-N,p x K:w)n5k+y

尚福林并未给出首只红筹股发行A股的时间表。中国政府希望增加A股供应量，以帮助吸收投资者过剩的流动性。去年，在流动性过剩的推动下，基准的上证综合指数大幅上涨，引发了人们对于股价中存在泡沫的担忧。

许多在港发行H股的中国集团已经发行了A股，不过全球最大的移动电话运营商中国移动(China Mobile)正在等待在内地上市的机会。分析师预计，汇丰银行(HSBC)、西门子(Siemens)和可口可乐(Coca-Cola)也在考虑赴内地上市的外资企业之列。中国华尔街博客空间ZEf\Yb

专业服务公司普华永道(PwC)预测，2008年A股市场筹资额将超过650亿美元，预计红筹股将于今年下半年获准发行A股。

尚福林提及的监管机构目标还包括：全方位推进市场化的并购重组；推出创业板市场；以及推出市场等待已久的股指期货。

 Beijing will encourage” foreign firms and Chinese companies quoted in Hong Kong to list in China, the country's senior securities regulator said yesterday.中国华尔街博客空间7t:zZ,sgUX

The plan is part of a push to expand China's stock market. Some mainland officials have called for the axing of regulations that prevent foreign companies and “red chips” – Chinese companies incorporated overseas but listed in Hong Kong – from joining the Shanghai or Shenzhen exchanges.

Shang Fulin, chairman of the China Securities Regulatory Commission, yesterday became the most senior mainland official to flag the likelihood of reforms.中国华尔街博客空间6Q3FY/oy0[

The changes are expected to help mainland bourses repeat last year's feat of topping the US and UK as the leading centre for capital raisings. A-share offerings in Shanghai and Shenzhen raised $65bn in 2007.

Shang Fulin did not give a timetable for when the first red-chip would list A-shares. The government wants to increase the supply of A-shares to help mop up excessive investor liquidity, which last year caused the benchmark Shanghai index to soar, sparking fears of a bubble in equity prices.中国华尔街博客空间
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Many Chinese groups with H-shares in Hong Kong have listed A-shares, although red chips such as China Mobile, the world's largest mobile phone company, are waiting for the chance of a mainland offering. Foreign companies such as HSBC, Siemens and Coca-Cola are among those analysts would expect to consider mainland listings.中国华尔街博客空间!D,w/K8II/EOl6m

PwC, the professional services firm, has forecast that A-share offerings in 2008 will raise more than $65bn, with red chips expected to be allowed to list in the second half of the year.中国华尔街博客空间o+g5x0`-V)}

Mr Fulin also spoke of the regulator's objective to encourage market-oriented mergers and acquisitions and restructurings; the creation of a bourse for high-tech companies; and the long-awaited launch of stock index futures.