Europe's biggest?lender HSBC is talking with Chinese
securities?regulators about?share sales?in
Shanghai,?a report from Bloomberg said Saturday.
"There have been discussions held with the relevant authorities
on the potential listing on the Shanghai Stock Exchange," the
report quoted Vincent Cheng, HSBC's Asia-Pacific chairman,?as
saying?in Hong Kong yesterday.
However,?"There isn't a timetable" for a stock sale,
according to Cheng.
China has agreed to let qualified foreign companies float their
shares on the Chinese mainland, according to a joint statement
issued after the Third China-US Strategic Economic Dialogue which
concluded in Beijing on December 13.
China will also allow qualified overseas-listed companies to
issue yuan-denominated corporate bonds and qualified incorporated
foreign banks to issue yuan-denominated financial
bonds?following?relevant prudential regulations,
according to the?statement.
HSBC has said it and Hong Kong unit Hang Seng Bank are both
considering stock-market listings in Shanghai when rules allow,
according to the report.
(Chinadaily.com.cn December 16, 2007)
