Shanghai Stock Exchange to List Foreign MNCs?
The Shanghai Stock Exchange is considering listing large multinational companies that have experienced growth in China, state media reports. Que Bo, Assistant General Manager of the Shanghai Stock Exchange, told a conference on China's capital market that the bourse is "doing market research, and will get some results soon. To strengthen the blue-chip market, we have been planning to list such multinationals as HSBC, Coca-Cola and Siemens, which have developed very well in China.” Que added that China's largest exchange would continue to lure more large domestic firms and Hong Kong H-shares and Chinese firms registered and listed in Hong Kong.
China Follows “From Quantity to Quality” FDI Policy
China will gradually scrap restrictions on the destination, stock
ownership and business scope of foreign investment in the services
sector, according to a senior economic planner. Zhang Mao, Vice
Minister of the National Development and Reform Commission, reiterated
the Chinese government’s stated policy of adopting a "from quantity to
quality” policy for attracting foreign investment: “The point is to
absorb advanced technologies and management skills from foreign
countries.” However, existing restrictions on foreign investment in
industries key to “China's national security and its citizens'
livelihood” will remain unchanged.
Beijing Subway Handles Record Traffic
The Beijing subway network handled 2.89 million passengers last Friday
– a new daily record. The figure was attributed to the opening of a new
subway line and the recent lowering of the subway fares. State media
reports that the No.13 subway line received a record 382,900 passengers
on Friday, and the new south-north No. 5 line served 472,600
passengers. At the beginning of October, a new subway pricing system
was adopted, cutting subway fares by about 30 per cent. A one-way
ticket now costs RMB2.
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