--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service


Hot Links
China Development Gateway
Chinese Embassies

No Timetable for QDII and CDR: Official
The Chinese authorities have set no timetable for the possible launches of Qualified Domestic Institutional Investor (QDII) and China Depositary Receipt (CDR) schemes, which are meant to allow domestic investors to trade overseas-listed stocks, according to Zhou Xiaochuan, chairman of the China Securities Regulatory Commission (CSRC).

The remarks were made at a press conference on the sidelines of the 16th World Congress of Accountants, which concluded in Hong Kong yesterday.

Zhou also said China will stick to its plan to launch a NASDAQ-style second stock exchange board.

"(When working on a new policy) we need to study, communicate, reach consensus among various parties and solve detailed problems before the time becomes ripe," Zhou said.

"In the case of QDII, we may still need some time before we move to that stage," he said, adding "it is hard to design any timetable (for the scheme)."

He said the CDR issue is a similar situation.

A QDII arrangement, meant to allow domestic funds to invest in overseas markets within limits, would open up new channels for the Chinese mainland's huge amount of bank savings, while the nascent and highly speculative mainland market still lacks investment tools and quality companies.

The Hong Kong market is expected to be the testing ground for the scheme, which would most likely boost the exchange's liquidity.

The hope for a faster decision-making process on the matter rose earlier this month after the mainland authorities announced they would launch the long-awaited Qualified Foreign Institutional Investor (QFII) scheme next month. The QFII scheme will allow foreign investors to access the huge yuan-denominated A-share market.

The CDR programme would allow overseas-listed firms to float certificates representing their shares on the mainland's stock markets.

Red-chip companies, those with a strong mainland background but registered and listed in Hong Kong, have been seen as the most feasible initial candidates. A number of them have expressed interest in joining the scheme to tap the domestic market.

Mainland investors are officially barred from investing in overseas markets because the yuan remains inconvertible on the capital account.

The mainland market is worried that if the investment ban is lifted, massive amounts of capital will flee overseas.

The authority has said it will eventually make the yuan fully convertible but has been cautious on the issue since the Asian financial crisis.

"We are very prudent in our studies of some policies. This is mainly because of the Asian financial crisis," Zhou said.

For example, he said, the issue of QFII was officially raised in 1998 but became possible only now.

However the CSRC, for its part, has been active in these matters, Zhou said.

Regarding the long-awaited second board, Zhou said: "As far as I know, it is clear that the decision (for the launch) has not changed. It will be launched," he said, adding that it still requires further study by the various parties concerned.

The launch of the second board has been delayed because of the brief history of this type of market, the lack of experience, and especially the bursting of the technology bubble in 2000, Zhou said.

In answer to a question on the initial size of fund for the QFII scheme, Zhou said the market, rather than the regulatory authorities, would determine the size.

"It is most important that we set up a mechanism and see if it will go smoothly and successfully. If it will, we will then make greater strides," he said.

(China Daily November 22, 2002)

No Gold Rush Despite Birth of QFII Scheme
QFII Refreshes Capital Market: Goldman Sachs
Int'l Banks Ready for QFII Filing
Foreign Investors Can Trade A Shares
Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688
主站蜘蛛池模板: 中文字幕免费在线| 亚洲va中文字幕无码| 美国一级毛片免费| 国产成人精品无码免费看| 91久久精品一区二区| 女人高潮内射99精品| 中文字幕专区高清在线观看| 日韩一区精品视频一区二区| 亚洲伊人色欲综合网| 法国性XXXXX极品| 免费a级毛片网站| 美女美女高清毛片视频| 日韩人妻潮喷中文在线视频| 北条麻妃一区二区三区av高清| 这里只有精品视频在线| 国产日韩综合一区二区性色AV | 一区二区视频网| 欧美a在线视频| 亚洲欧美国产中文| 色吊丝永久在线观看最新免费| 国产成人精品一区二区秒拍| 18精品久久久无码午夜福利| 在线免费黄色网址| chinesespanking2实践| 山村乱肉系列h| 中文字幕23页| 樱花草在线播放免费| 亚洲成年人影院| 永久免费无内鬼放心开车| 人妻av一区二区三区精品| 精品中文字幕一区在线| 喷出巨量精子系列在线观看 | 国产精品久久久久久久久电影网| 中文字幕一区二区三区免费视频| 日本三级免费看| 久久免费观看国产精品| 日韩午夜在线视频| 久久综合精品不卡一区二区| 暖暖直播在线观看| 亚欧色一区w666天堂| 最近免费中文字幕视频高清在线看|