Launching of High-tech Board to Be Delayed

The establishment of China's long-awaited second-board market has been put off for further preparations, the head of the country's top securities market watchdog revealed yesterday.

"We will launch the second-board market at an appropriate time...but we have not set a definite timetable for it," said Zhou Xiaochuan, chairman of the China Securities Regulatory Commission.

He made the remarks while answering inquiries from Hong Kong deputies attending the ongoing session of the Ninth National People's Congress (NPC).

Zhou attributed the delay to the negative influence of emerging instability in the new economy all over the world.

"The determination of top policy-makers (to set up the second-board market) has been affected by the changes," Zhou said.

The chairman said worries about high risks from and in the new high-tech sector have led to further debate on whether the country is really ready to launch a high-tech board.

Shenzhen has been making preparations for the second-board market ever since the idea of spurring the development of high-tech firms through venture capital was raised at the National Science and Technology Conference in 1999, according to Zhou.

"But there are still doubts about whether the time is ripe (to launch the second-board market) and whether we can launch it with confidence," he acknowledged.

"So we need more careful and far-sighted preparations," Zhou added.

Economist Xiao Zhuoji once said that the country would officially launch the new bourse within the year.

There are now more than 70,000 high-tech firms on the mainland and about 2,000 to 3,000 of them are hoping to make initial public offerings on the new market, according to Xiao.

Zhou said his commission is also making preparations to make State-held stocks and stocks held by legal persons in listed firms tradable as a major effort to increase equity flow in the stock market.

Currently, State-held stocks and stocks held by legal persons in listed firms are not allowed to be traded on the Chinese stock market, which has greatly limited the volume of traded stocks.

The chairman said some economists, securities experts and insiders have long been calling for the move.

"But we should move very cautiously and gradually," he said.

As the move directly involves the ownership structure of listed firms, it may take a long time to realize, Zhou added.

He said his commission's preparations, both on the legal and operational sides, aims at preventing any shocks to the stock market once untradable stocks are opened to investors.

(China Daily 03/07/2001)

In This Series

New Bourse Draft Unveiled

Second-Board Market Policy to Undergo Final Top Review

50 to 60 Shares to Debut on "Second Board"

Controversies Rise over China's Second Board Stock Market

References

Archive

Web Link


Copyright © 2001 China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68996214/15/16

主站蜘蛛池模板: 公和我做好爽添厨房在线观看| 国产成人精品视频福利app| 性欧美18~19sex高清播放| 影音先锋在线免费观看| 天天做天天摸天天爽天天爱| 夜夜高潮夜夜爽国产伦精品| 大象传媒在线观看| 国产精品毛片完整版视频| 国产精品一卡二卡三卡| 国产女18片毛片水真多| 国产一级在线免费观看| 别揉我的胸~啊~嗯~的视频| 伊人中文字幕在线观看| 亚洲国产成人久久精品app| 公交车上性配合享受视频| 亚洲性猛交xx乱| 久久精品aⅴ无码中文字字幕重口 久久精品aⅴ无码中文字字幕重口 | 老子影院午夜伦手机不卡6080| 伊人一伊人色综合网| 国产在线播放网址| 色中文字幕在线| 狠狠躁狠狠躁东京热无码专区| 欧美日韩在大午夜爽爽影院| 日韩剧情片电影网址| 成人国产一区二区三区| 在线黄视频网站| 国产AV日韩A∨亚洲AV电影| 亚洲精品免费视频| 久久综合久久综合九色| 一本加勒比hezyo东京re高清| 69式互添免费视频| 色屁屁www欧美激情在线观看 | 亚洲黄在线观看| 久久精品无码一区二区www| 99在线精品一区二区三区| 成人精品一区二区户外勾搭野战| 色伦专区97中文字幕| 日韩综合无码一区二区| 好吊妞欧美视频免费高清| 国产福利影院在线观看| 午夜免费福利影院|