Beef up B-share market for our foreign currency
By Yin Zhongli (China Daily)Updated: 2007-05-22 06:58
Currently there are only 111 companies issuing B shares in the Shanghai and Shenzhen stock exchanges with a total of 16.4 billion shares circulating. The market value of the shares stands at 100 billion yuan ($12.9 billion) at the current exchange rate.
By May 18, the shares in circulation on the A-share market for Sinopec, the listed company with the largest market value in both stock exchanges in Shanghai and Shenzhen, were worth 43 billion yuan ($5.51 billion), almost half the total value of the B shares in circulation.
With the growth of the B-share market urgently needed, a proper approach would be to start the public offerings of companies, especially those with excellent business records and prospects. Blue chips on the B-share market would help stabilize the market during the speedy swell of investment.
The author is a researcher with the Institute of Finance under the Chinese Academy of Social Sciences
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