Jane Chen / Shanghai Daily news

Aiming to become the first overseas company to list on China's mainland market, German electronic conglomerate Siemens AG is preparing to float on Shanghai's A-share market, today's International Finance News reported.
Citing Siemens Chief Financial Officer, Heinz-Joachim Neuburger, the report said the company is exerting efforts to localize its business in China, ranging from research and development to manufacturing and financing.
The company is conducting feasibility research for the float and expects to complete the paperwork for listing in one year, the CFO disclosed.
Neuburger said Siemens, with 60 joint-ventures in China reporting total annual sales approaching 40 billion yuan (US$4.9 billion), is "very interested" in listing on China's capital markets.
Though Hong Kong is a good place for listing, Siemens is more in favor of Shanghai's A-share market, he said. 
"Siemens now meets most of the listing requirements for China's mainland markets," he added.
The company will list its China holding company, Siemens Ltd., China, he disclosed.
Established in October 1994, it was one of the first overseas companies to be launched in China.
To facilitate its listing plan, Siemens has increased its holdings in various joint ventures, as disclosed by Siemens China's President Richard Hausmann earlier this year.  The company is now in talks to increase its stake in more than 20 cooperation projects here.
"In the past years, many of our cooperation partners have sold part or all of their stakes to us, increasing Siemens' share of these projects," Neuburger said.
That will make it easier for Siemens to list on China's domestic market, financial analysts pointed out.