A report on share swaps between A-shares and H-shares has been
misrepresented by some foreign
media, confirmed the relative department of China Securities
Regulatory Commission. The central government is studying the
possibility of share swaps between stocks listed on the mainland
and in Hong Kong, and there will be no price gap if the share swaps
can be realized, reported Bloomberg News, one of the world's
largest information sources. According to Bloomberg News, China
Securities Regulatory Commission Vice-Chairman Tu Guangshao
released the news in an interview on the sidelines of the 17th CPC
National Congress on October 17.
"The misrepresented report from the relative media is not
correct," insiders from the Information Services Department
of China Securities Regulatory Commission told China
Business News.
Tu Guangshao said that the stock exchanges on the mainland were
not ready for share swaps between stocks listed on the mainland and
in Hong Kong, which was confirmed by the supporting staff of the
interview attended by the Information Services Department of
the China Securities Regulatory Commission on the afternoon
of October 17.
Prices of the A-shares of 48 companies are higher than that of
their H-shares; some analysts?released report
predicting?a bear market for A-shares and a bull market for
H-shares immediately after they heard the news from Bloomberg.
The A-shares market endured a panic decline yesterday and stocks
listed in Hong Kong enjoyed a sharp rise. The Hang Seng Index rose
0.57 percent, or 166.34 points, to close at 29465.05 after breaking
through the 30,000-mark in the morning session. The Shanghai
Composite Index dropped by 3.5 percent, or 211.00 points, to close
at 5825.28.
For more details, please read the full story in Chinese (
http://www.china-cbn.com/s/n/000002/20071019/020000057997.shtml).
(China.org.cn by Yang Xi October 19, 2007)
