China to regulate overseas stock exchanges' agencies
China will not approve the establishment of overseas bourses' agencies
before regulations on the management of the business are made, a senior
securities regulatory official said in Beijing yesterday.
The country is
mulling over measures to regulate overseas bourses' agencies in the country, Tu
Guangshao, vice chairman of the China Securities Regulatory Commission (CSRC)
Applications of overseas stock exchanges to set agencies in China will
be examined and approved only after the regulations come out, said Tu, without
Earlier reports said that China has granted applications of the
New York Stock Exchange and the Nasdaq Stock Market.
Stock exchanges from the
United States, Britain, Singapore and the Republic of Korea have launched a
series of promotions in China over recent years, encouraging local enterprises
to go public there.
However, analysts worry that overseas listing of domestic
companies, especially those report outstanding performance and with high-growth
potentials, will slower the growth of China's capital market.