中國網(wǎng)站品牌欄目（頻道）
With the goal of building Shanghai into a world-class financial hub, the central government is showing renewed interest in inviting foreign-funded firms to be listed in the country.
Deputy commerce minister Chen Jian said yesterday that his ministry will continue to work with other Cabinet departments on policies regarding domestic IPOs of foreign firms to "actively guide high-quality foreign firms to go public in China".
The government said as early as November 2001 that it might allow foreign companies to list on the bourse in Shanghai, and analysts said there was a possible acceleration of the process recently.
Chen's comments yesterday on foreign companies' domestic IPOs were also linked to government efforts to stop the decline of foreign direct investment (FDI).
Direct investment slid 17.8 percent, to $6.38 billion, in May from a year earlier.
And Chen said yesterday that FDI in China faces "unprecedented difficulties" after falling for eight months, the longest stretch of declines this decade.
"In order to boost investor confidence and expand the inflow of foreign investment, the Ministry of Commerce is working with other departments to develop measures to stabilize FDI inflows," Chen said. He pledged that the government will "soon" announce policies to stabilize investment.
Some analysts said HSBC Holdings PLC, Europe's largest bank, could be in the running to be the first to list. HSBC was the first overseas company to respond to the Shanghai bourse's plan to start the "international board".
Market watchers believe now is the time to kick off foreign companies' A-shares IPOs, because the country's benchmark Shanghai Composite Index has rallied over 60 percent this year and domestic investors are keen to invest in more high-quality companies.
Questions:
1. When did the government first say it might allow foreign companies to list on the bourse in Shanghai?
2. By how much direct investment slid in May from a year earlier?
3. According to Chen, what is the Ministry of Commerce doing in order to boost investor confidence and expand the inflow of foreign investment?
Answers:
1. November 2001.
2. 17.8 percent, to $6.38 billion.
3. The Ministry of Commerce is working with other departments to develop measures to stabilize FDI inflows.
（英語點(diǎn)津 Helen 編輯）
About the broadcaster:
Siberian-born Kristina Koveshnikova is a freelance journalist from New Zealand who has worked in print, television and film. After completing a BCS degree majoring in journalism, she won an Asia NZ Foundation/Pacific Media Centre award to work for China Daily website. Kristina previously did internships at ABC 7 News in Washington DC and TVNZ in New Zealand and has written for a number of publications, including The New Zealand Herald and East & Bays Courier.
 |
 |
 |
 |
 |
 |
